department store

Saks Global, the parent company of Neiman Marcus, Saks Fifth Avenue and Bergdorf Goodman, officially emerged from Chapter 11 bankruptcy Friday with fewer stores, less debt, a more focused strategy to pamper the affluent — and a new name.

After 30 years at the Galleria, Nordstrom will close its doors on May 16. The department store said it’s focusing on leveraging other stores and online shopping.

Struggling retail giant JC Penney could face bankruptcy if things don’t improve, according to SMU Marketing Professor Ed Fox. With Monday’s ouster of…