Saks Global reportedly considering sale of minority stake in Bergdorf Goodman

Luxury retail giant Saks Global is said to be considering offloading a minority stake in Bergdorf Goodman as it reportedly continues to review “strategic options” for the business.

According to sources for WWD, the sale of such a stake, the size of which could not be determined, could value the department store between 1.5 and 2 billion dollars.

This would be in place of a full sale or joint venture opportunities, both of which Saks was said to have explored earlier in the year.

Responding to the report, a spokesperson for Saks Global told WWD: “We do not comment on rumour or speculation.”

The decision to partially offload Bergdorf Goodman could aid Saks’ wider turnaround plan, which was launched after its debt load expanded following last year’s acquisition of the Neiman Marcus Group, and subsequently Bergdorf.

Despite securing a 350 million dollar refinancing in June, the retail group is still largely reliant on its 1.8 billion dollar asset-back lending facility as it faces mounting interest payments and 4 billion dollars of debt.

In Saks’ latest financial report for Q1 2025, reported on by WWD, CEO of the group, Marc Metrick, said “solid strides” were being made in executing its transformation plan despite inventory pressures and cautious consumer spending.

The company is still working on improving its inventory flow, with “below optimum levels” of inventory availability continuing to impact revenues. Its buyers are also working on repairing relationships with vendors, WWD noted, after many experienced missed payments.