The Saks brand's ailing relationship with vendors, a problem years in the making, is one of the many challenges shadowing the company as it tries to shore up its finances, re-establish trust with suppliers and convince investors and consumers that a $2.7 billion deal to buy a longtime rival was worthwhile.. . Six months after Saks acquired Neiman Marcus, the combined company - Saks Global - is trying to assure bondholders that the tie-up they helped fund puts the luxury giant on firmer financial footing ...
Saks executives have long promoted the Neiman Marcus deal - which includes Bergdorf Goodman - as a so-called transformative event that could remake and strengthen the luxury retail sector in the United States. ...
He said he expected cost savings from the Neiman Marcus acquisition to start to appear within months, helping the combined company dominate the luxury retail market. ...
Saks made the payment on time, according to a source close to the company, despite jitters among some investors leading up to the deadline. ...
topSaks executives have long promoted the Neiman Marcus deal - which includes Bergdorf Goodman - as a so-called transformative event that could remake and strengthen the luxury retail sector in the United States.
topHe said he expected cost savings from the Neiman Marcus acquisition to start to appear within months, helping the combined company dominate the luxury retail market.
top... ailing relationship with vendors, a problem years in the making, is one of the many challenges shadowing the company as it tries to shore up its finances, re-establish trust with suppliers and convince investors and consumers that a $2.7 billion deal to buy a longtime rival was worthwhile.. . Six months after Saks acquired Neiman Marcus, the combined company - Saks Global - is trying to assure bondholders that...
topSaks made the payment on time, according to a source close to the company, despite jitters among some investors leading up to the deadline.
topSix months after Saks acquired Neiman Marcus, the combined company - Saks Global - is trying to assure bondholders that the tie-up they helped fund puts the luxury giant on firmer financial footing.
topThe latest test came on Monday, the due date for an initial $120 million interest payment to creditors, tied to a $2.2 billion, five-year bond issue that Saks used to finance the Neiman Marcus deal. Saks made the payment on time, according to a source close to the company, despite jitters among some investors leading up to the deadline
topGary Wassner, the chief executive of Hilldun, a finance company that guarantees orders for dozens of brands that ship to Saks, said company executives had assured him that everything would be fine and that he would continue to be paid.
topThe agreement will increase the company's liquidity and reflects creditors'"continued confidence in our business and strategic direction," the chief executive, Marc Metrick, said in a statement.. . Saks executives have long promoted the Neiman Marcus deal - which includes Bergdorf Goodman - as a so-called transformative event that could remake and strengthen...
topGary Wassner, the chief executive of Hilldun, a finance company that guarantees orders for dozens of brands that ship to Saks, said company executives had assured him that everything would be fine and that he would continue to be paid.
topThe agreement will increase the company's liquidity and reflects creditors'"continued confidence in our business and strategic direction," the chief executive, Marc Metrick, said in a statement.
topThe agreement will increase the company's liquidity and reflects creditors'"continued confidence in our business and strategic direction," the chief executive, Marc Metrick, said in a statement
topThe latest test came on Monday, the due date for an initial $120 million interest payment to creditors, tied to a $2.2 billion, five-year bond issue that Saks used to finance the Neiman Marcus deal
topThe agreement will increase the company's liquidity and reflects creditors'"continued confidence in our business and strategic direction," the chief executive, Marc Metrick, said in a statement
topThe latest test came on Monday, the due date for an initial $120 million interest payment to creditors, tied to a $2.2 billion, five-year bond issue that Saks used to finance the Neiman Marcus deal.
topThe latest test came on Monday, the due date for an initial $120 million interest payment to creditors, tied to a $2.2 billion, five-year bond issue that Saks used to finance the Neiman Marcus deal.
topThe agreement will increase the company's liquidity and reflects creditors'"continued confidence in our business and strategic direction," the chief executive, Marc Metrick, said in a statement.
topThe latest test came on Monday, the due date for an initial $120 million interest payment to creditors, tied to a $2.2 billion, five-year bond issue that Saks used to finance the Neiman Marcus deal.
topZenobia Taylor-Braun had high hopes in 2021 when she started selling her artisanal jams to Saks Off 5th, the off-price sister brand to Saks Fifth Avenue.
topThe Saks brand's ailing relationship with vendors, a problem years in the making, is one of the many challenges shadowing the company as it tries to shore up its finances, re-establish trust with suppliers and convince...
topFrederico Carvalho, the lead Saks analyst at S&P Global Ratings, said that whether the retailer could reach financial stability would depend on its ability to leverage the acquisition of Neiman Marcus to its advantage.. . Advertisement. . Skip advertisement. "Going forward, the company is larger, it's way larger
top... dozens of brands that ship to Saks, said company executives had assured him that everything would be fine and that he would continue to be paid.. . He said he expected cost savings from the Neiman Marcus acquisition to start to appear within months, helping the combined company dominate the luxury retail market
topThe luxury retailer made an initial payment to bondholders on time, but six months after it acquired Neiman Marcus concerns about its finances remain.. . By Danielle Kaye. . July 1, 2025. . Zenobia Taylor-Braun had high hopes in 2021 when she started selling her artisanal jams to Saks Off 5th, the off-price sister brand to Saks Fifth Avenue
topGary Wassner, the chief executive of Hilldun, a finance company that guarantees orders for dozens of brands that ship to Saks, said company executives had assured him that everything would be fine and that he would...
topSaks executives have long promoted the Neiman Marcus deal - which includes Bergdorf Goodman - as a so-called transformative event that could remake and strengthen the luxury retail sector in the United States.
topSix months after Saks acquired Neiman Marcus, the combined company - Saks Global - is trying to assure bondholders that the tie-up they helped fund puts the luxury giant on firmer financial footing.
top... longer sell to Saks and may work with other department stores instead, said Amanda O'Neill, a retail analyst for S&P Global Ratings. "It's very hard to compete when you don't have the inventory to do so," she said.
topMetrick said on Friday that the company would consider accelerating the timeline for past-due payments should inventory improve over the next few months.. . But broader pressures on the retail sector are adding to the luxury giant's woes
top... Bergdorf Goodman - as a so-called transformative event that could remake and strengthen the luxury retail sector in the United States. A combined company would reduce costs and bolster the department store brands.
topGary Wassner, the chief executive of Hilldun, a finance company that guarantees orders for dozens of brands that ship to Saks, said company executives had assured him that everything would be fine and that he would continue to be paid
topDespite cash flow concerns, frustrated vendors and macroeconomic pressures, some in the retail industry remain optimistic about Saks. Gary Wassner, the chief executive of Hilldun, a finance company that guarantees orders for dozens of brands that ship to Saks, said company executives had assured him that everything would be fine and that he would...
topSaks executives have long promoted the Neiman Marcus deal - which includes Bergdorf Goodman - as a so-called transformative event that could remake and strengthen the luxury retail sector in the United States. A combined company would reduce costs and bolster the department store brands.
top... consider accelerating the timeline for past-due payments should inventory improve over the next few months.. . But broader pressures on the retail sector are adding to the luxury giant's woes. President Trump's tariff policies could raise the cost of imports from European Union countries, where many of the retailer's products originate
topBut broader pressures on the retail sector are adding to the luxury giant's woes. President Trump's tariff policies could raise the cost of imports from European Union countries, where many of the retailer's products originate
topSaks executives have long promoted the Neiman Marcus deal - which includes Bergdorf Goodman - as a so-called transformative event that could remake and strengthen the luxury retail sector in the United States
topSaks executives have long promoted the Neiman Marcus deal - which includes Bergdorf Goodman - as a so-called transformative event that could remake and strengthen the luxury retail sector in the United States. A combined company would reduce costs and bolster the department store brands
top... would consider accelerating the timeline for past-due payments should inventory improve over the next few months.. . But broader pressures on the retail sector are adding to the luxury giant's woes. President Trump's tariff policies could raise the cost of imports from European Union countries, where many of the retailer's products originate
topBut broader pressures on the retail sector are adding to the luxury giant's woes. President Trump's tariff policies could raise the cost of imports from European Union countries, where many of the retailer's products originate
topMetrick said on Friday that the company would consider accelerating the timeline for past-due payments should inventory improve over the next few months.. . But broader pressures on the retail sector are adding to the luxury giant's woes
top... Taylor-Braun had high hopes in 2021 when she started selling her artisanal jams to Saks Off 5th, the off-price sister brand to Saks Fifth Avenue. For a small-business owner like her, access to the luxury retailer's stores seemed like a prestigious step forward.. . But Ms. Taylor-Braun's excitement soon gave way to frustration about missed payments
topPresident Trump's tariff policies could raise the cost of imports from European Union countries, where many of the retailer's products originate. Consumer sentiment and spending are down, as households grow anxious about the U.S
topOn Friday, Saks said it had reached a deal with its existing bondholders for $600 million in new financing commitments. The agreement will increase the company's liquidity and reflects creditors'"continued confidence in our business and strategic direction," the chief executive, Marc Metrick, said in a statement.
topIts challenges run much deeper than making one interest payment, retail analysts said. In May, S&P Global Ratings put Saks on negative credit watch over concerns about its liquidity. On a call with creditors, Saks said it had an adjusted loss of more than $100 million in the last fiscal year, which ended Feb