Saks Global, the longtime leader of luxury department stores, files for bankruptcy protection

[Auggie]

4. Consumers attitudes have shifted, and for the better IMO

Younger generations realize that implied value is mostly bullshit and the older generations who set the precedent have aged out. Same with high-end wine. Throw in the convenience of e-commerce, and brick and mortar luxury is no longer a sustainable business model. Not at the level that Saks and Neiman Marcus have been operating, at least.