NEW YORK, United States — Saks Inc. on Monday reported a deeper than expected second-quarter loss after disappointing sales of shoes and handbags forced the luxury retailer to mark down prices.
VANCOUVER, Canada — Hudson’s Bay Co. Chief Executive Officer Richard Baker says rising interest rates pose no hurdle to a potential spinoff of the retailer’s real estate, including its future Saks Inc. stores, because they hold so much value.
NEW YORK, United States — Hudson's Bay Co, operator of Lord & Taylor and Canada's The Bay department stores, said on Monday that it would buy luxury retailer Saks Inc for $16 per share, or $2.9 billion in cash.
NEW YORK, United States — KKR & Co. is weighing whether to make an investment in Saks Inc. and may push the luxury retailer to pursue a combination with rival Neiman Marcus Group, said people with knowledge of the matter.
NEW YORK, United States — Saks Inc. surged in late trading after the New York Post reported the department-store chain hired Goldman Sachs Group Inc. to help it explore alternatives, including a possible sale.