Kering - Statement Number of Shares and voting rights - 15.01.2026 KeringSociété anonyme with a share capital of €493,683,112Head office: 40, rue de Sèvres – 75007 PARIS552 075 020 RCS PARIS January 16, 2026 Monthly statement on the total number of shares and voting rights(articles L.233-8 of the French Commercial Code and 223-16 of the General Regulation of the French Financial Markets Authority (AMF – Autorité des Marchés Financiers) Date Total number ofshares Total number of voting rightstheoretical 1e ...

Company Overview - Saks Global, the luxury retailer behind brands like Saks Fifth Avenue, Neiman Marcus, and Bergdorf Goodman, has filed for Chapter 11 bankruptcy due to difficulties in paying debts amid financial challenges [4] - The company has secured $1.75 billion in committed capital to support its restructuring efforts [4] Market Context - The luxury retail market experienced a surge post-pandemic, but inflation and rising interest rates have restricted the customer base to ultra-wealthy consumers [4] - Major fashion houses are increasingly bypassing traditional retailers by establishing their own boutiques and online platforms, which has intensified competition for Saks Global [4] Strategic Moves - Hudson's Bay, the Canadian owner of Saks, made a significant move by acquiring Neiman Marcus for $2.7 billion to consolidate the luxury market under Saks Global [5] - The integration of Neiman Marcus into Saks Global faced challenges, including funding issues and limited growth potential due to customer overlap [5] Competitive Landscape - Bloomingdale's, owned by Macy's, reported its best sales growth in three years by maintaining a strong balance sheet and pivoting to smaller stores with curated inventory [5] - Nordstrom has successfully maintained supplier relationships and improved cash flow through its off-price division, Nordstrom Rack, while also going private to focus on long-term strategies [5] Creditors and Stakeholders - Key creditors of Saks Global include luxury brands Kering and LVMH, while equity shareholders include Amazon, Salesforce, and G-III Apparel [6]

For the second time in his career, luxury executive Geoffroy van Raemdonck has been tasked with fixing an iconic department store company brought low by financial engineering. In 2018, he was hired to fix Neiman Marcus Group, which was struggling to to keep up with shifting consumer trends and unprofitable under the weight of heavy debt from years of private equity ownership. This time, the job is twice as big. On Tuesday, Van Raemdonck was appointed CEO of Saks Global, the same day as the luxury departm ...

Core Viewpoint - Saks Global has filed for bankruptcy, allowing the fashion industry to begin moving forward [1] Group 1: Bankruptcy Details - Saks Global has accumulated $2.2 billion in debt from bonds taken to acquire Neiman Marcus Group in 2024, leading to a complex bankruptcy situation [2] - Unsecured creditors, including vendors, are expected to receive only a small fraction of what they are owed due to the significant debt [2] Group 2: Impact on Designers - Smaller designers owed money by Saks Global are facing severe financial strain, leading to layoffs and potential bankruptcies [3] - Major fashion brands are also affected, with Chanel claiming $136 million, Kering owed $59.9 million, Rosen-X owed $41.4 million, and Capri Holdings owed $33.3 million [4] Group 3: Future Outlook - Saks Global is under new leadership from CEO Geoffroy van Raemdonck, who previously guided Neiman Marcus Group through bankruptcy in 2020, aiming to revitalize operations [4] - Some brands, like Ermenegildo Zegna Group and Brunello Cucinelli, express optimism about the future and the potential for Saks Global to emerge stronger post-bankruptcy [6][7]

Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. The information contained herein is for informational purposes only. Nothing in this article should be ...

Jan 14 (Reuters) - High-end department store conglomerate Saks Global filed for bankruptcy protection late on Tuesday, barely a year after a deal that aimed to create a luxury ​powerhouse. One of the largest retail collapses since the pandemic, the development casts uncertainty over ‌the future of U.S. luxury fashion. Here are some key details of Saks' Chapter 11 court filing listed below: ASSETS AND LIABILITIES: Saks ‌Global listed its estimated assets and liabilities in the range of $1 billion to $1 ...

Core Viewpoint - Saks Global Enterprises, owner of Saks Fifth Avenue and other luxury retail brands, has filed for Chapter 11 bankruptcy protection, highlighting that even high-end retailers are not immune to economic challenges [1] Group 1: Bankruptcy Filing Details - Saks Global announced its Chapter 11 filing in the U.S. Bankruptcy Court for the Southern District of Texas on January 14, 2026, and has secured $1.75 billion in financing commitments to support its turnaround efforts during the bankruptcy process [2] - The company has appointed Geoffroy van Raemdonck as the new CEO, taking over from Richard Baker immediately [3] Group 2: Reasons for Bankruptcy - Saks Global is facing challenges similar to other retailers, including higher tariffs, inflation, online competition, and reduced discretionary spending by consumers [4] - The company has reported assets and liabilities between $1 billion and $10 billion, with a significant debt burden exacerbated by the acquisition of Neiman Marcus for approximately $2.7 billion in 2024 [4][5] - Saks Global owes substantial amounts to major fashion brands, including around $136 million to Chanel, $60 million to Kering, and $26 million to LVMH [5] Group 3: Company Overview - Saks Global's most recognized brand is Saks Fifth Avenue, established in 1867, and it also owns other retailers such as Bergdorf Goodman, Saks Off 5TH, Last Call, Horchow, and Neiman Marcus [6] - CEO Geoffroy van Raemdonck described the bankruptcy process as a defining moment for Saks Global, presenting an opportunity to strengthen the business's foundation for the future [7]

French luxury brand Chanel and Gucci owner Kering top the list of unsecured creditors of bankrupt U.S. department store Saks Global, with claims of $136 million and $60 million respectively, court do... ...

Core Insights - Saks Global, the parent company of Saks Fifth Avenue, Neiman Marcus, and Bergdorf Goodman, has filed for Chapter 11 bankruptcy, securing $1.75 billion in financing to continue operations during the process [1] Group 1: Unsecured Creditors - Major footwear brands are among the largest unsecured creditors, with Christian Louboutin owed $21.6 million and Capri Holdings (parent of Michael Kors and Jimmy Choo) owed $33.3 million [2] - Chanel is owed $136 million, while Kering, the parent company of Gucci and Balenciaga, is owed $59.9 million [3] - The filing lists over 10,000 creditors, with small independent brands facing significant risks in the current luxury market [4] Group 2: Financial Details - Saks Global's assets and debts are estimated to be between $1 billion and $10 billion, with $2.2 billion in bonds related to the acquisition of Neiman Marcus and an additional $600 million in debt from a recent refinancing [5] Group 3: Leadership Changes - Richard Baker has stepped down as CEO of Saks Global after a brief tenure, with Geoffroy van Raemdonck, former CEO of Neiman Marcus Group, being appointed as a potential successor [6] - Van Raemdonck stated that this moment presents an opportunity to strengthen the business's foundation for the future [7]

Core Insights - Saks Global Enterprises has filed for Chapter 11 bankruptcy protection, following a $2.7 billion acquisition of Neiman Marcus that resulted in a significant debt burden, marking a major retail collapse post-COVID-19 pandemic [3] - The company has secured a financing commitment of approximately $1.75 billion to support its operations and restructuring efforts [4][5] Financial Overview - Saks reported assets and liabilities in the range of $1 billion to $10 billion as per court filings [3] - The financing commitment includes $1.5 billion from an ad hoc group of bondholders and around $240 million from asset-based lenders [4] Operational Changes - Saks is evaluating its operational footprint to focus resources on areas with the greatest long-term potential [3] - The company appointed Geoffroy van Raemdonck as CEO, who previously led Neiman Marcus before its acquisition by Saks [5] Background Context - Saks Global was formed after Hudson's Bay acquired Neiman Marcus in 2024, consolidating several luxury brands under one entity [6] - The acquisition involved about $2 billion in debt financing and equity contributions from investors, including Amazon and Salesforce [7] - Prior to the Neiman Marcus acquisition, Saks was already facing challenges due to a slowdown in the luxury market and had delayed payments to vendors [7]