CNBC's Courtney Reagan speaks with former Saks CEO Steve Sadove; former Toys"R"Us CEO Jerry Storch; former Bloomingdale's CEO Michael Gould; and former Sears Canada CEO Mark Cohen about the outlook for retail.
Saks will expand its distribution and fulfillment capacity, adding a new facility in Tennessee this year. The new center will occupy approximately 564,000 square feet of leased space and will be located in LaVergne, Tenn. It will be equipped with a sophisticated mobile-robotic fulfillment system that's been successfully deployed in Saks’ Maryland facility. Saks expects the Tennessee facility to be operational by August.