On October 17, 2025, it was reported, Saks Global Q2 revenue fell more than 13% year over year to $1.6 billion, missing the company's own expectations, the luxury retailer said Thursday. Gross merchandise value edged down to $2 billion from $2.1 billion a year ago. Gross margin contracted by 20 basis points to 37.9%, which the company said was due to "higher full-price selling offset by minor shifts in sales mix, seasonal markdowns and promotional costs." Net loss widened by more than 6% to $288 million. Saks Global is encountering the scenario that analysts have warned about for months that the luxury conglomerate's troubled relationships with vendors were destined to interfere with sales and throw share to competitors. Concessions are run by brands themselves, eliminating the need to wait on Saks Global for payment. But Saks Global's report also suggests that vendors are withholding fall deliveries, which is "well within their rights" but dicey for the retailer just ahead of the holiday season, said Amlani, who has co-authored a book on wholesale strategy. Saks Global's work merging the operations of Neiman Marcus and Saks Fifth Avenue aggravated the existing inventory difficulties after "a one-time interruption during the systems integration" in August, the company said Thursday. Saks Global took over Neiman Marcus Group which ran luxury rivals Neiman Marcus and Bergdorf Goodman in a $2.7 billion deal that closed in December. Since the integration was completed, Saks Global has been on a unified merchandising and inventory management platform, which the company called a "key milestone."
On October 17, 2025, it was reported, Top 100 retailer American Signature Furniture announced plans to exit the Nashville, Tenn. market as part of a broader initiative to realign its market presence and strengthen operations in top-performing regions. As part of the move, it will close its four Nashville area stores in Clarksville, Franklin, Madison and Murfreesboro. While it's leaving the market, ASF continues to operate more than 120 stores across the United States, and officials say it remains well-positioned for continued growth. American Signature testing 'upper funnel' finance tool Store closing sales are underway at all four Nashville American Signature Furniture locations, offering shoppers 20% to 40% off a wide selection of home furnishings, ranging from living room, dining room and bedroom collections to dcor, lighting, mattresses and rugs. To assist with the store closing process, ASF has partnered with SB360 Capital Partners, a nationally recognized firm specializing in retail transitions and large-scale sales events. ASF's exit from the Nashville market is part of the company's ongoing effort to optimize its store portfolio and strengthen operations in markets where it continues to see the greatest opportunity for growth. ASF remains committed to delivering exceptional style, value and service to customers across its national footprint.
On October 16, 2025, it was reported, J.B. Hunt reported improved profitability for the third quarter of 2025, with earnings per share climbing 18% to $1.76 despite largely unchanged revenue. The trucking and logistics company cited ongoing efforts to reduce structural costs and enhance operational efficiency as key drivers of its performance gains. The Lowell, Arkansas-based carrier posted net earnings of $170.8 million, up from $152.1 million in the same period last year. Operating income rose 8% to $242.7 million, while total operating revenue edged down less than 1% to $3.05 billion from $3.07 billion in the 3rd qtr of 24. The company said its operating income growth stemmed from structural cost removal, stronger productivity, and lower purchase transportation expenses. These gains were partly offset by higher professional-driver wages and increased equipment-related costs. J.B. Hunt's effective tax rate for the quarter decreased to 24% from 25.2% a year earlier, aided by the resolution of certain tax positions. The company expects its full-year 2025 tax rate to be about 24.5%. Newly appointed CFO Brad Delco expressed his hopes for a turn to positive momentum in the sector heading into 2026. As of Sept. 30, J.B. Hunt reported approx. $1.6 billion in outstanding debt, compared with $1.53 billion a year earlier. Net capital expenditures totaled $490.9 million for the first nine months of 2025, in line with prior-year levels. The company ended the quarter with $52 million in cash and cash equivalents. J.B. Hunt repurchased roughly 1.6 million shares during the quarter for about $230 million, leaving $107 million available under its existing authorization. Total shares outstanding stood at approximately 95.2 million.
On October 14, 2025, it was reported, Metro Mattress, a longtime Northeastern sleep retailer, is going out of business following approval from the U.S. Bankruptcy Court for the Northern District of New York to begin store closing sales to wind down the business. Judge Wendy A. Kinsella signed an interim order authorizing the retailer to conduct going-out-of-business sales "free and clear of all liens, claims and encumbrances." According to court documents, the liquidation sales will be held at six locations in New York state. The retailer started closing its other 34 stores Oct. 6. Founded in 1976, Metro Mattress was founded in 1976 and operated about 70 stores at its peak. The retailer filed for Chapter 11 protection Sept. 4, 2024. Following court approval, Metro mattress closed about 30 New England and New York locations earlier this year. The company said those closures were intended to focus on its more profitable New York stores, but losses continued to mount, according to court documents. Dove told the court he anticipates the liquidation sale to take five weeks. The judge's order notes that Metro Mattress will "use commercially reasonable efforts to vacate the closing stores as promptly as possible" and that remaining merchandise may be consolidated among locations during the process. The order also authorizes the company to transfer merchandise between stores and conduct sales without further third-party approvals, including from landlords or government units, so long as the company complies with general consumer protection and safety laws. A final hearing on the liquidation authorization is expected in the coming weeks, after which the court is likely to finalize Metro Mattress' full closure plan.
