Inside the Macy’s in Philadelphia, underneath one of the largest pipe organs in the world, which just a few months ago was blasting “Deck the Halls” for a holiday light show, stands a small yellow sign announcing the close-out sale of this iconic department store.

It’s one of hundreds of signs posted around the vast sales floor, giving the Renaissance-inspired shopping palace the feeling of a much less glamorous retailer, closer to a discount chain than the ritzy department stores of old.

Macy’s last month announced plans to close the store in March, ending more than a century of department stores continuously occupying the ground floor of the Wanamaker Building. The 12-story, granite-walled structure was the brainchild of retail pioneer John Wanamaker, who opened the first department store in the US at the location in 1911. Eventually, it would become one of several stores along Market Street known as the “Big Six,” of which Macy’s is the last remaining inheritor.

Keep reading here.—AV

In February, President Donald Trump first imposed 25% additional tariffs on Canada and Mexico and subsequently paused the move by 30 days. Trump also scrapped a duty-free exemption for small parcels, known as de minimis, but reinstated it until the Commerce Department has a proper system in place to collect tariff revenue per an executive order.

While the holiday season may have been a bright spot for the retail industry, the past few weeks have become a game of Whack-a-Mole for many companies.

Executives from three agencies that work with e-commerce brands selling across platforms like Amazon, Shopify, and TikTok Shop said the impact of policy changes on e-commerce remains uncertain. But overall, prices of some items sold online may go up, as Trump tries to influence global supply chains.

Keep reading here.—VC

One thing was clear with Prada’s recent and newsworthy acquisition of Versace from Capri Holdings: Italian luxury is coming together to bolster its position in the global luxury market.

With Versace coming back home to Italian ownership, Prada hopes to gain access to a broader range of consumers, capturing both the understated and the extravagant fashion markets Versace is known for. Additionally, the retailer stands to benefit from Versace's strong presence in North America—accounting for close to 31% of revenue for Capri Holdings in 2025’s third fiscal quarter .

“Versace brings boldness and cultural energy; Prada offers refinement and modern minimalism,” Jhara Valentini, founder of Valentini Media Group, a consulting firm that works with a number of luxury brands, told Retail Brew via email. “Together, they allow the group to engage different consumer mindsets and aesthetic preferences—without compromising what makes each brand distinctive.”

Keep reading here.—JS