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The Latest Breaking News from Marc Metrick

How a real estate scion's risky dealmaking pushed Saks Global to the brink

With vendors angry and luxury shoppers deserting in droves, the department store chain’s new CEO, Richard Baker, faces a tough slog.

Saks CEO Steps Down: What Went Wrong in the Final Months

Saks CEO Steps Down: What Went Wrong in the Final Months

Saks Global replaces its CEO amid debt pressure, missed payments, and a slowdown in luxury sales, exposing the risks of rapid expansion and bold mergers.

International Business Times UK

Luxury Giant in Freefall: Saks 'Desperate' to Lock Down $1B Financing After Skipping Huge Debt Payment

Luxury Giant in Freefall: Saks 'Desperate' to Lock Down $1B Financing After Skipping Huge Debt Payment

Saks Global races to secure $1B in emergency financing as bankruptcy looms after missing a $100M bond payment linked to its troubled Neiman Marcus deal.

International Business Times UK

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Saks Global is luxury’s last best hope

The combination of Saks and Neiman Marcus into a single entity represents one of the most significant developments in U.S. luxury retail in decades.

Parent company of Saks Fifth Avenue to buy rival Neiman Marcus for $2.65 billion,

The parent company of Saks Fifth Avenue has signed a deal to buy upscale rival Neiman Marcus Group, which owns Neiman Marcus and Bergdorf Goodman stores, for $2.65 billion, with online behemoth Amazon holding a minority stake

The Independent UK

Saks buys Neiman Marcus in $2.6bn deal — with a little help from Amazon

The deal was reportedly sealed with some help from Amazon, which is taking a minority stake in the newly-formed group Saks Global

The Independent UK

Jennifer Lawrence experiences wardrobe malfunction at Dior event

‘I’m so sorry that was so loud and my belt popped off,’ the actor laughs

The Independent UK

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Market conditions aren't stopping rich consumers from buying luxury goods. Saks's CEO has a theory why

Market conditions aren't stopping rich consumers from buying luxury goods. Saks's CEO has a theory why

Saks's CEO Marc Metrick isn't new to economic swings and market volatility—nor are his well-heeled customers.

Inflation, Recession Fears Have Holiday Shoppers Trading Down

Inflation, Recession Fears Have Holiday Shoppers Trading Down

Many shoppers are trading down to less expensive clothing and accessories -- swapping Lululemon leggings for Uniqlo and expensive lingerie for Target bras and panties -- as inflation eats into their disposable income and a rocky stock market erodes their wealth.

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