Saks Fifth Avenue Flagship Appraised at $3.6 Billion as It Renews Neiman Push
The owners of Saks Fifth Avenue are in talks to raise financing to bolster the cash portion of an offer to buy competitor Neiman Marcus.
Ascena Retail Group could enter Chapter 11 as soon as this week with a creditor agreement in place that eliminates around $700 million of its $1.1 billion debt load.
Ascena Retail, owner of the Ann Taylor, Maurices and Lane Bryant women’s clothing chains, fell as much as 24 percent in early trading after forecasting that weak traffic to its stores will continue to weigh on earnings.
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The owners of Saks Fifth Avenue are in talks to raise financing to bolster the cash portion of an offer to buy competitor Neiman Marcus.
The announcement comes more than 20 years after Life, which was initially founded in New York City in 1883, stopped its regular publications.
A deadline to submit initial offers passed on Thursday, with a final deal expected to close mid-April.
Shoppers “get bored very quickly,” Régis Schultz, JD Sports’ CEO, said.
British sportswear retailer JD Sports said trading conditions remained challenging after its like-for-like sales dropped in January, resulting in fourth-quarter growth of just 0.1 percent.
Luxury watchmaker Favre Leuba plans to unveil more than two dozen timepieces later this year, priced as much as 24,000 Swiss francs ($26,489), as part of a brand relaunch that seeks to expand the Swiss pioneer’s appeal beyond its majority Indian consumer base.
L Catterton, backed by French luxury group LVMH Moet Hennessy Louis Vuitton SE, is launching a new vehicle to invest in Indian consumer-sector companies as it increases the focus on the fastest-growing major economy in the world.
The online market for secondhand apparel hit $20 billion in the US in 2023 and is expected to more than double over the next five years, according to a new report from ThredUp and Global Data.