Reported about 20 hours ago
Saks Global, the parent company of Saks Fifth Avenue, is exploring the sale of a minority stake in luxury retailer Bergdorf Goodman to reduce debt. As luxury goods demand fluctuates in the U.S., this sale aims to maximize asset potential amid concerns like inflation and tariffs. Currently, Saks Global is in discussions with several bidders to sell a 49% stake for $1 billion, which would help address debt from its recent Neiman Marcus acquisition.
Source: YAHOO