The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
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.
The shares rose 16 percent to $15.85 at 4:14 p.m. in New York after gaining 11 percent during regular trading. New York- based Saks had increased 30 percent this year through the close of regular trading today, compared with a 17 percent gain for the Standard & Poor’s 500 Index.
Saks has hired Goldman to explore strategic alternatives, the Post reported, citing an unidentified person with knowledge of the situation.
Possible bidders for Saks include private-equity firms such as KKR & Co. and Leonard Green & Partners LP, the newspaper said.
By: Cotten Timberlake; Editors: Kevin Orland, James Callan
From analysis of the global fashion and beauty industries to career and personal advice, BoF’s founder and CEO, Imran Amed, will be answering your questions on Sunday, February 18, 2024 during London Fashion Week.
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