Saks Global news and archive

Saks eyeing raised debt as trade uncertainty grows

Department store giant Saks Global Enterprises is said to be mulling the possibility of raising more debt as uncertainty around tariffs continues to grow. In a statement to Bloomberg, the company said: “In this period of economic uncertainty, driven by tariffs and the threat of further trade restrictions, we are prudently evaluating...

Retail

Saks Global confirms closure of Neiman Marcus Dallas store

Neiman Marcus’ Downtown Dallas store is set to close March 31, Saks Global has confirmed in a press release. The company, which is currently in the process of merging its operations with the newly acquired Neiman Marcus Group (NMG), responded to circulating rumours that suggested otherwise. This comes despite reports that officials for the City...

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Saks Global to layoff 5 percent of corporate workforce

Luxury department store Saks Global is believed to be laying off around 5 percent of its corporate workforce as it continues to merge its operations with Neiman Marcus. According to an internal memo sent to employees and seen by Bloomberg News, the layoffs will impact employees in the finance, legal and operations departments. Staff at Saks...

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Saks Global completes the acquisition of Neiman Marcus

Saks Global, a luxury retail and real estate company, has finalized its acquisition of Neiman Marcus Group (NMG) for a total enterprise value of 2.7 billion dollars. Saks Global portfolio now includes Neiman Marcus, Bergdorf Goodman, Saks Fifth Avenue, and Saks OFF 5TH, each continuing to serve customers under their own brand. Commenting on the...