Saks Fifth Avenue cancels holiday light show for 2024 season

Saks Fifth Avenue has canceled its popular holiday light show for this season, which has been a tradition for nearly 20 years. The store aims to focus on its architectural significance as it celebrates its 100th anniversary. The decision comes amid cost-cutting measures following Hudson's Bay's recent $2.65 billion acquisition of Neiman Marcus. Reports indicate that Saks has outstanding payments to vendors, but the company did not confirm if this influenced the cancellation. New York City is expecting 7.5 million tourists this holiday season, a recovery from the pandemic. However, foot traffic to department stores remains slow, with several major retailers facing challenges in recent years. Saks plans to share details about its holiday window displays later this month.