The Backroom: Suddenly, there’s a lot going on in department stores

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Welcome to The Backroom, a window into what happens behind the scenes as the Retail Dive team covers the stories and trends that are changing retail. You can check out all of our podcast episodes (past and present) here and listen on Apple Podcasts, iHeartRadio, and Spotify.

The department store is a century-old retail model that has weathered a series of transformational challenges, including the rise of specialty retail and e-commerce. Yet in recent decades, several, if not all, major players have struggled to remain relevant amid the decline of the American mall and the fallout from the COVID-19 pandemic.

Recently, however, several players in the industry—including Macy’s, Saks Fifth Avenue, Neiman Marcus, Nordstrom and others—have made headlines with major events, announcements and opportunities. In fact, another department store, Southern Retailer Belk, made the news after this episode was taped. Belk has acquired new owners with a controlling interest in the company and reduced its debt by almost $1 billionthe biggest financial relief since the company started operating 24 hours a day bankruptcy three years ago.

Senior Editor Retail Dive Kaarin Vembar and senior reporter Daphne Howland discuss what’s happening at these retail stores, what it could mean, and what might happen next.

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Editor’s Note: This episode was produced and edited by Caroline Jansen.