Amazon's launch of luxury fashion shops is latest blow to struggling department stores

"Amazon’s foray into luxury fashion is the latest blow this year to U.S. department stores, which have been hit especially hard by the coronavirus pandemic.

The e-commerce company announced Tuesday the launch of a section on its mobile app called Luxury Stores, kicking off with items from designer Oscar de la Renta’s pre-fall and fall-winter 2020 collections. It said additional luxe fashion brands will be added to the app in the coming weeks."