 Both Neiman and Saks have been battling slow sales. A lot of shoppers right now are choosing to buy directly from high-end brands online instead of going into department stores. Earlier this year, we saw that Macy's announced it would cut jobs and shut down 150 of its store locations to adapt to this changing marketplace online. And to underscore that shift, if you look at overall retail sales in the U.S. over the past year, department store sales are down about 2%. Online sales are up 7%.