The Apple Watch goes on sale in stores today. Whether you can just walk into an Apple Store and buy one is another matter. The debut of Apple's first new device in five years is looking more like an event from the fashion world rather than the tech world. This time, there won't be long lines of faithful gadget lovers waiting for hours and days to buy the latest product from the Cupertino, Calif.-based company.
A private equity firm said this week that it would buy retailer J.Jill, which specializes in casual women's fashion, shoes and accessories. TowerBrook Capital Partners, based in New York and London, will take over the fashion company from investment firm Arcapita and private equity firm Golden Gate Capital. Financial terms weren't disclosed. J.Jill, based in Quincy, Mass., has more than 250 stores nationwide.
The president of Saks Fifth Avenue, Marigay McKee, stepped down Thursday after 15 months at the department store chain's helm. She was replaced by Marc Metrick, an executive at Saks’ parent company, Hudson's Bay. Ms. McKee joined Saks in 2014 after revitalizing the luxury London retailer Harrods. She pushed to modernize Saks, which had struggled with underperforming stores after overexpanding in the last decade. McKee said she would spend $1.25 billion over two years to refurbish stores and try to attract younger customers by adding more contemporary fashions and international labels.