ROCK HILL, S.C., March 23, 2026 (GLOBE NEWSWIRE) -- 3D Systems (NYSE: DDD) today announced the appointment of Phyllis Nordstrom as Executive Vice President and Chief Financial Officer, effective March 23, 2026. Ms. Nordstrom, who has served as Interim Chief Financial Officer since August 2025, will also continue in her role as Chief Administrative Officer, reporting directly to President and CEO Dr. Jeffrey Graves. Ms. Nordstrom's promotion reflects the company's strong confidence in her leadership and comm ...

Core Viewpoint - Saks Global Enterprises is experiencing a resurgence in merchandise shipments from over 380 brands, including luxury labels like Burberry, LVMH, and Kering, as it attempts to recover from bankruptcy [1][2]. Group 1: Merchandise and Brand Engagement - The company is set to receive approximately $1.2 billion in merchandise over the next few months, which represents around 75% of the inventory forecasted for the fiscal first quarter [3]. - The number of brands resuming shipments has tripled since January, indicating a positive shift in brand confidence [2]. - Brands such as Burberry, Christian Louboutin, and others have resumed or continued shipping, with Burberry planning to collaborate with Saks Global's merchant team for upcoming seasonal orders [4][5]. Group 2: Financial Position and Inventory Management - Saks Global has secured access to $825 million of the $1.75 billion in capital committed by investors during the bankruptcy process, providing ample liquidity for inventory purchases [10]. - The value of inventory received in February is down a low-single-digit percentage compared to the same period last year, reflecting ongoing challenges in stock replenishment [11]. - The company is focusing on ordering fast-selling products, such as cosmetics and seasonal fashion items, to boost revenue [5]. Group 3: Challenges and Future Outlook - Despite the positive developments, Saks Global faces the challenge of encouraging brands that have resumed shipments to increase their supply and convincing hesitant brands to return [7][8]. - The company must also work to regain customers who have shifted to competitors like Bloomingdale's and Nordstrom, which have seen sales increases at Saks Global's expense [10].

Core Insights - Lulus is experiencing significant growth in its wholesale channel, which increased by 143% year over year from 2024 to 2025, while maintaining its direct-to-consumer (DTC) business model [3] - The company has expanded its partnerships with major retailers, including Nordstrom, Urban Outfitters, and Dillard's, to enhance its market presence [3][4] - Lulus aims to strengthen brand equity and create long-term value through strategic partnerships, as highlighted by CEO Crystal Landsem [5] Company Performance - In the most recent quarter, Lulus reported a 9% year-over-year decrease in net revenue and an 11% decrease in active customers [6] - The brand's sales at Nordstrom have been significant, with 55% of sales coming from the retailer's stores, prompting the decision to expand its wholesale business [8] Strategic Initiatives - Lulus has increased its presence at Nordstrom from approximately 60 locations to all of the department store's locations, reflecting a strategic move to meet customers where they shop [8] - The company plans to expand its dress assortment at Nordstrom in April, adding more daytime dresses alongside special occasion styles [8]

Group 1 - Jason Bell has been promoted to EVP, chief supply chain officer at Nordstrom, effective immediately, and will oversee transportation in addition to his existing responsibilities [1] - Bell joined Nordstrom in 2021 as SVP of supply chain operations, focusing on optimizing the retailer's supply chain operations [2] - Prior to Nordstrom, Bell held significant roles in supply chain leadership, including VP of distribution planning and operations at H-E-B and VP of fulfillment operations at Target, where he managed large-scale fulfillment operations [3] Group 2 - Nordstrom has prioritized optimizing its supply chain since 2022, which included scaling back plans for a leased omnichannel center in the Pacific Northwest [4] - The company has successfully transitioned operations from a fulfillment center in San Bernardino, California, to its West Coast omnichannel center in Riverside, California [4]

Core Insights - Saks Global's bankruptcy presents an opportunity for competitors to capture market share, with an estimated $700 million available for those who can capitalize on the situation [1][5]. Store Closures - Saks Global operates 70 department stores across its brands, including Neiman Marcus and Bergdorf Goodman, and is expected to close at least 20 stores, primarily affecting the Saks chain [2][3]. - The decision on which stores will close will be made by a federal bankruptcy judge, but preliminary assessments indicate potential cuts in locations where both Saks and Neiman Marcus operate [2][3]. Market Share Impact - The potential market share opening due to Saks Global's closures could range from $500 million to $1 billion, with a midpoint estimate of $700 million based on the closure of 20% of stores and their reduced productivity [5]. - Saks Global's estimated fiscal 2025 sales are approximately $6.5 billion, leading to an 11% share displacement as a result of the closures [5]. Competitor Analysis - Competitors such as Nordstrom, Bloomingdale's, and Macy's are positioned to benefit significantly, with Nordstrom having a 25% overlap with Saks Global and Bloomingdale's at 22% [6]. - Macy's could gain approximately $300 million, while Nordstrom might see an incremental increase of around $170 million in sales due to the market shift [6]. - LuxExperience is projected to capture about $60 million in additional sales, while Revolve could gain between $45 million to $50 million [7].

Core Viewpoint - Saks Global is pursuing legal action to prevent former Bergdorf Goodman chief merchant Yumi Shin from joining Nordstrom, citing contractual violations and potential harm to its business [1][2]. Group 1: Legal Action and Allegations - Saks Global has filed a federal lawsuit in the U.S. District Court for the Northern District of Texas, claiming that allowing Shin to take a position at Nordstrom would cause "immediate and irreparable harm" [2]. - The lawsuit alleges that Shin has violated her non-competition agreement and has misappropriated proprietary information, demanding the return of nearly $50,000 in payouts [4][6]. - Shin has responded by seeking to dismiss the lawsuit, arguing that her agreements with Saks Global are contradictory and raise jurisdictional issues [3][4]. Group 2: Background and Context - Yumi Shin served as chief merchandising officer at Bergdorf Goodman from January 2019 until her resignation in October 2025, prior to her move to Nordstrom [2]. - Saks Global has experienced leadership changes, including the departure of Chief Retail Officer Melissa Xides from Bergdorf in late November [5]. - The legal dispute highlights the complexities surrounding non-compete agreements, which can vary significantly based on state laws and specific contractual terms [6].

Core Insights - The rise of online shopping is reshaping consumer behavior, leading to the decline of traditional department stores and raising concerns about the future of brick-and-mortar retail [1] - Economic uncertainty is causing consumers to be more cautious with their spending, resulting in weakened sales and reduced foot traffic for many retailers [2] - The gap between store closures and openings is widening, with iconic department stores facing challenges in maintaining their presence [3] Company-Specific Insights - Nordstrom has confirmed the closure of its Nordstrom Rack store in Portland, Oregon, effective January 31, 2026, impacting 37 employees [4] - The decision to close the store is aimed at allowing Nordstrom to better serve Portland shoppers by focusing on remaining locations and e-commerce [5] - Despite the closure, Nordstrom remains committed to expanding its Nordstrom Rack concept nationally, having opened 22 new locations in 2025 and planning to open 20 to 25 new stores annually [6] - There are concerns regarding the future of Nordstrom's flagship location in Portland, with indications of uncertainty from the CEO about the company's operations in the city [7]

Core Insights - Nordstrom, Inc. plans to open a new Nordstrom Rack in Spokane, WA in fall 2026, expanding its presence in the region and enhancing customer service offerings [1][2] - The new store will be 31,000 square feet and located at Northpointe Plaza, a shopping center that includes other major retailers [1] - Nordstrom Rack is a key part of Nordstrom's strategy to provide a more interconnected shopping experience, offering discounts of up to 70% on various products [1] Company Expansion - The new Spokane location will increase Nordstrom's physical footprint in Washington, where it currently operates six Nordstrom stores and 12 Nordstrom Rack stores, generating over 3,100 jobs statewide [2] - The addition of the Spokane store is part of Nordstrom's broader strategy to grow its market presence and customer base [1][2] Community Engagement - Nordstrom has committed to investing in local communities, having donated over $3 million in partnership with Big Brothers Big Sisters of the United States over the past four years [3] Company Overview - Nordstrom, Inc. has a long history of customer service, evolving from a shoe store in 1901 to a multi-channel retailer with over 350 locations and digital platforms [4] - The company aims to provide a seamless shopping experience, whether in-store or online, while maintaining a commitment to social responsibility [4] Real Estate Context - Kite Realty Group, which manages Northpointe Plaza, is a significant player in the retail real estate market, owning interests in 181 open-air shopping centers and mixed-use assets across the U.S. [4]

Core Insights - NuORDER by Lightspeed is expanding its partnership with Nordstrom to enhance data-driven wholesale strategies, aiming to improve merchandise assortment and customer experience [1][2][3] Company Overview - NuORDER by Lightspeed is a leading B2B commerce platform that facilitates wholesale buying and selling, currently serving over 4,000 brands and more than 100,000 vetted retailers [4] - Lightspeed, the parent company of NuORDER, operates in over 100 countries, providing a comprehensive POS and payments platform for retail and hospitality businesses [5][6] Partnership Details - The partnership will involve creating a universal catalog of product data, which will streamline operations for Nordstrom by reducing manual processes and accelerating buying cycles [2][3] - NuORDER currently collects over 50 data points per item, and plans to increase data capture to support AI-driven forecasting and personalized product recommendations [2][3] Industry Impact - The integration of AI in retail is highlighted as a transformative force, enabling personalized recommendations and faster product availability, which are crucial for retail success [3] - The collaboration aims to unlock richer and broader data capabilities, enhancing decision-making processes for Nordstrom [3]

Core Insights - Nordstrom, Inc. plans to open a new Nordstrom Rack in Encinitas, CA in spring 2026, expanding its presence in the San Diego market [1][2] - The new store will be 24,000 square feet and located at El Camino Promenade, a shopping center that includes other retailers [1][3] - Nordstrom Rack offers discounts of up to 70% on various products and is a key part of Nordstrom's strategy to enhance customer experience [2][3] Company Expansion - The new location will increase Nordstrom's physical footprint in California, where it currently operates 26 Nordstrom stores and 68 Nordstrom Rack stores, generating over 12,800 jobs statewide [3] - The addition of the Encinitas store reflects the company's commitment to growth and community engagement [1][3] Community Engagement - Over the past four years, Nordstrom has donated more than $2 million to support its partnership with Big Brothers Big Sisters of the United States, focusing on mentorship programs [4] - The company emphasizes its commitment to investing in diverse communities where it operates [4] Business Model - Nordstrom's interconnected model allows customers to shop in-store or digitally, enhancing convenience and customer connection [5] - The company operates over 350 locations, including Nordstrom, Nordstrom Local, and Nordstrom Rack [5] Real Estate Context - Kimco Realty, the owner of El Camino Promenade, is a leading operator of grocery-anchored shopping centers and mixed-use properties in the U.S., focusing on essential goods and services [6] - Kimco Realty's portfolio includes 567 shopping centers and mixed-use assets, totaling 101 million square feet of gross leasable space [6]