Racked is no longer publishing. Thank you to everyone who read our work over the years. The archives will remain available here; for new stories, head over to Vox.com, where our staff is covering consumer culture for The Goods by Vox. You can also see what we’re up to by signing up here.
FWD reports that upmarket boutique Intermix, with stores from NYC to LA, Vegas to Miami, has does some major staff and salary cutting. Per the pub: "in addition to scaling back on staff headcount, the company has cut salaries of all employees (including those in corporate positions) by 18%. In a store meeting last week, Intermix owners Haro and Khajak Keledjian announced that they would not be closing any of the company's over 20 stores." They will pare back its buying and company expenditures, which translates to no fab holiday party. [FWD]