Saks Global
Coverage of Saks Global in the Nexus archive.
- WATCH: Saks exits bankruptcy with $500M financing and luxury-focused pivot
Saks Global has exited bankruptcy with $500M in financing and is restructuring through store closures, workforce reductions, and a strategic shift toward luxury retail and service. ABC News' Michelle Franzen and retail analyst Hitha Herzog analyzed the company's transformation.
- Saks officially emerges from Chapter 11 bankruptcy with less debt and a new name
Saks Global, parent company of Neiman Marcus, Saks Fifth Avenue, and Bergdorf Goodman, emerged from Chapter 11 bankruptcy with a new name, Exemplar Luxury Group, a 75% debt reduction, and $500 million in financing. The company reduced its store count, shuttering most Saks Off Fifth discount stores, and announced a strategy focused on luxury shopping experiences.
- Saks officially emerges from Chapter 11 bankruptcy with less debt and a new name
Saks Global, parent company of Neiman Marcus, Saks Fifth Avenue, and Bergdorf Goodman, emerged from Chapter 11 bankruptcy with a 75% debt reduction, $500 million in new financing, and a rebrand as Exemplar Luxury Group. The company closed most of its Saks Off 5th discount stores and now operates 49 total stores, partnering with Pentwater Capital Management and Bracebridge Capital during its restructuring.
- Saks officially emerges from Chapter 11 bankruptcy with less debt and a new name
Saks Global, the parent company of Neiman Marcus, Saks Fifth Avenue, and Bergdorf Goodman, officially emerged from Chapter 11 bankruptcy with reduced debt, fewer stores, a more focused strategy to serve the affluent, and a new name.
- Saks officially emerges from Chapter 11 bankruptcy with less debt and a new name
Saks Global, parent company of Neiman Marcus, Saks Fifth Avenue, and Bergdorf Goodman, emerged from Chapter 11 bankruptcy with a 75% debt reduction, $500 million in financing, and a new name, Exemplar Luxury Group. The company closed most of its Saks Off 5th discount stores and now operates 49 total stores, partnering with Pentwater Capital Management and Bracebridge Capital during its restructuring.
- Macy’s raises annual outlook after the fourth straight quarter of sales gains
Macy’s reported its fourth consecutive quarter of comparable sales gains, leading to an annual outlook increase under CEO Tony Spring. Bloomingdale’s stores saw a 10.2% sales rise, while Bluemercury gained 6.4%, driven by improved merchandise and customer service.
- Macy's raises annual outlook after the fourth straight quarter of sales gains
Macy's reported its fourth consecutive quarter of comparable sales gains, leading to an updated annual outlook. The company attributed the growth to merchandise overhauls and improved customer service, with Bloomingdale's and Bluemercury showing significant sales increases. Challenges persist due to economic factors like tariffs and rising gas prices.
- Neiman Marcus downtown Dallas store to close for good
Neiman Marcus' downtown Dallas store will close permanently on September 30, 2026, as Saks Global shifts focus to the larger NorthPark Center location. The decision follows declining foot traffic in downtown Dallas, and elements like the Zodiac Room and Bridal Salon will be integrated into the NorthPark store.
- Saks Global CEO on Next Steps in Bankruptcy Process, Path To Growth
Saks Global CEO discusses next steps in bankruptcy process and path to growth. The company is working towards recovery and expansion. Bankruptcy process details were shared by the CEO.