Amazon's business partnership with luxury retailer Saks Global has hit a sour note. The e-commerce giant invested $475 million of preferred equity in Saks Global — the owner of department stores Saks Fifth Avenue, Neiman Marcus, and Bergdorf Goodman — in December 2024.Now, Amazon says its stake is "presumptively worthless," and it has asked a federal judge to reject the retailer's bankruptcy financing plans, which it says will further diminish its chances of recovery. "That equity investment is now presum ...

Amazon wants a federal judge to reject Saks Global's bankruptcy financing plan, writing in court papers the beleaguered department store "burned through hundreds of millions of dollars in less than a year" and failed to hold up their agreement. When Saks acquired Neiman Marcus for $2.7 billion in December 2024, Amazon invested $475 million into the venture on the grounds the retailer would start selling its products on Amazon's website and the tech company would offer technology and logistics expertise."Tha ...

Macy's announced that it's closing more than a dozen additional stores in 2026 as it pushes forward with plans to shutter underperforming locations to boost profitability. Approximately 14 stores are slated to close during the first fiscal quarter as part of its "Bold New Chapter" turnaround strategy, which includes shuttering about 150 underperforming locations by the end of 2026.Macy's CEO Tony Spring said in a letter to employees last week that the company will continue to review its portfolio, which inc ...

Bankruptcies pull back the curtain on a company all at once — laying bare the troubled descent into insolvency. And while the story of Saks Global’s fall has been obsessively covered in WWD, the paperwork puts a finer point on some things that were already known and also offers up some revelations. More from WWD Here, five interesting takeaways from the declaration of Mark Weinsten, chief restructuring officer, as well as the initial filing, which detailed the retailer’s key unsecured creditors. 1. Au ...

Key Points It's ambitious, transformational strategy was implemented well. The retailer is becoming notably slimmer by divesting assets and closing underperforming stores. 10 stocks we like better than Macy's › What a difference a few years can make. Macy's (NYSE: M), a one-time poster boy for the retail apocalypse, saw its share price not only grow across 2025 (by over 30%) but also convincingly outperform the broader market as the bellwether S&P 500 index increased at a 16% clip. That was the fir ...

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 ...

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... ...

This story was originally published on Supply Chain Dive. To receive daily news and insights, subscribe to our free daily Supply Chain Dive newsletter. Macy’s will fully shutter its distribution center in South Windsor, Connecticut, later this year, according to a Worker Adjustment and Retraining Notification Act notice dated Jan. 12. The retailer will close its store delivery and customer returns operating units at the facility after announcing plans to cut its backstage operating unit in October. The ...

Core Insights - Target Corporation is launching the Jeremiah Brent Home collection, an exclusive bedding assortment featuring over 80 pieces, with most items priced under $100, available starting January 18, 2026 [1][2][3] Product Details - The collection includes a variety of bedding items such as sheets, duvets, comforters, and blankets, available in sizes from twin to California king, with prices ranging from $30 to $119 [2][3] - The design emphasizes natural patterns, textures, clean lines, and calming neutral colorways, aiming for an elevated and timeless aesthetic [2] Availability and Shopping Experience - The collection will be available in approximately 1,800 Target stores and on Target.com, with options for same-day services like Drive Up and Order Pickup, allowing customers to receive items in as little as two hours [3] - Same Day Delivery is also offered, with delivery times as short as one hour [3] Company Background - Target Corporation, based in Minneapolis, operates nearly 2,000 stores and has a long-standing commitment to community support, donating 5% of its profits, which equates to millions of dollars weekly [4]

Jan 14 (Reuters) - Saks Global filed for bankruptcy late on Tuesday, adding to a long list of high-profile retail collapses in the United States in the past decade as they struggled to stay alive amid cut-throat competition from big-box and online retailers. Saks ​Global is a conglomerate of department stores created after then parent, Hudson's Bay, acquired rival Neiman Marcus in 2024. Saks Global owns ‌luxury chains Saks, Neiman Marcus and Bergdorf Goodman. Listed below are some of the biggest bankrup ...