Executive Summary

• This week’s note “From the Desk of Deborah Weinswig” offers a view of American department stores and how the sector landscape differs from that in Europe.
• Over the next few months, Nordstrom will launch Space—its in-store concept boutique dedicated to advanced fashion—in four new locations. Space has attracted a new customer to Nordstrom, while the company’s existing customer has enthusiastically embraced Space’s brands, which include Vetements, Comme des Garçons and Simone Rocha.
• UK supermarket chain Tesco has trialed 24-hour opening at seven additional London stores on Fridays and Saturdays in order to capitalize on the new Night Tube service, the round-the-clock London Underground service that launched last weekend. On the Night Tube’s opening weekend, Tesco also operated “hydration stations,” where employees handed out Tesco Finest Orange Juice and bottled water from 3 a.m. to 7 a.m.
• El Puerto de Liverpool, Mexico’s biggest department-store operator, made its second major purchase this summer and won over investors. The company agreed to acquire a minority stake in Chile’s Ripley for at least US$300 million.