KB Advisory Group

Global sales of personal luxury goods are expected to fall 60% in the second-quarter of 2020 due to the coronavirus pandemic, according to a Bain & Co. report. Last week, the Ares Management Corp (NYSE: ARES) co-owned, high-end retailer Neiman Marcus became the first large department store...

The coronavirus pandemic represents an "existential threat" to the entire retail sector and there will be a "fundamental changes" to the longer-term business model, Steve Sadove, former chairman and CEO of Saks, said in a Thursday CNBC "Squawk Box" interview....