Alex Osola

The maker of Crest toothpaste and Pantene shampoo also cut its earnings outlook for its fiscal year ending in June.

Its share price closed up 2.7%.

Coming up, what the Sachs bankruptcy tells us about luxury retail, and the movie that just beat the record for the most Oscar nominations ever.

That's after the break.

When luxury retailer Saks Fifth Avenue filed for bankruptcy last week, most people were not surprised.

Its 2024 acquisition of competitor Neiman Marcus didn't make the company into the luxury juggernaut its leadership had hoped.

But it's not the only luxury company that's felt some strain.

Suzanne Kappner covers retail for the journal and joins me now.

So, Suzanne, some of what was going on with Saks was specific to that company.

But how has the overall luxury industry been doing?

How is the luxury sector evolving and how do you think it's going to do in the next few years?

So doubling down on the big spenders, what about everybody else?

That was Wall Street Journal reporter Suzanne Kappner.

Thank you, Suzanne.

Democratic Senator Amy Klobuchar of Minnesota is preparing a run for governor.

She filed necessary paperwork today, and a person close to her says she's expected to make a formal announcement soon.

Klobuchar, a 2020 Democratic presidential candidate, enjoys strong favorability ratings among Minnesota voters.

No major Democratic candidates have said they're running for governor since Tim Walz announced earlier this month that he wouldn't seek a third term.

Meanwhile, roughly a dozen Republicans are in the competition ahead of an August primary.

The GOP hasn't won statewide office in Minnesota since 2006.