Saks, its suppliers and debtor-in-possession (DIP) lenders are negotiating whether consigned luxury goods can be treated as collateral under the retailer’s $1.75bn bankruptcy financing. Vendors have sought assurances that lenders would not assert rights over concession or consignment inventory, or related cash proceeds, sources told Reuters. According to the news agency’s report, all sides were hoping to reach an agreement before a 17 February 2026 court deadline to object to the loan, though some issue ...

Core Insights - Saks Global, owner of Saks Fifth Avenue and Neiman Marcus, has filed for Chapter 11 bankruptcy and is closing several stores across its brands [1][2] - The company plans to close nine luxury department stores, including one Neiman Marcus and eight Saks Fifth Avenue locations [2][6] - The closures aim to enhance customer service, strengthen brand partnerships, and promote full-price selling for sustainable growth [3] Store Closures - Saks Global will close nine luxury department stores by approximately April 30, 2026, pending court approval [3][4] - The store closing sales are expected to begin around February 20 [4] - After the closures, Saks Global will operate 35 Neiman Marcus stores and 25 Saks Fifth Avenue stores [4] Specific Store Locations - The only Neiman Marcus store closing is located in Boston, Massachusetts [5] - The Saks Fifth Avenue closures include locations in: - Birmingham, Alabama - Phoenix, Arizona - New Orleans, Louisiana - East Rutherford, New Jersey - Tulsa, Oklahoma - Columbus, Ohio - Bala Cynwyd, Pennsylvania - Richmond, Virginia [6][7]

Group 1: Store Closures - Saks Global announced the closure of eight Saks Fifth Avenue stores and one Neiman Marcus location as part of its restructuring efforts during Chapter 11 reorganization proceedings [1][3] - The closures include specific locations such as The Summit in Birmingham, Ala., and Polaris Fashion Place in Columbus, Ohio, among others [3][4] - Additionally, 57 Saks Off 5th stores are closing, leaving only 12 operational, and all five Last Call outlets for Neiman Marcus are also shutting down [2] Group 2: Strategic Changes - The closures are described as an "initial phase of optimization" aimed at enhancing the store footprint of Saks Fifth Avenue and Neiman Marcus [3] - The Fifth Avenue Club strategy, which served customers in markets without physical stores, is being adjusted following the $2.7 billion acquisition of NMG by Saks Global [5] - Two stand-alone Fifth Avenue Clubs will continue to operate, with plans for a third location in Palm Beach, Fla., expected to open this fall [5] Group 3: Leadership Statements - CEO Geoffroy van Raemdonck emphasized the importance of reinforcing Saks Fifth Avenue, Neiman Marcus, and Bergdorf Goodman as premier luxury destinations [6] - The company aims to optimize its operational footprint to enhance product delivery, customer experience, and personalized service while positioning itself for long-term growth [6] - Van Raemdonck noted that opportunities within the luxury market remain strong, indicating a positive outlook for Saks Global's role in the industry [6]

LONDON — SKP, one of the most profitable luxury retailers globally, logged a group-wide 15 percent increase in turnover in the year ending Dec. 31, 2025, according to sources familiar with the matter, who requested anonymity. Annual turnover of its flagship project SKP Beijing recorded a 6.8 percent gain to 23.5 billion renminbi, or $3.4 billion, in the period, sources added. More from WWD Faced with industrywide headwinds, SKP Beijing’s annual turnover dropped about 17 percent in 2024 to 22 billion renm ...

Key Takeaways Saks Global Enterprises, which includes Neiman Marcus, Bergman Goodman, and its namesake brand, sought bankruptcy protection Wednesday. The retailer aims to keep stores open during the restructuring, and has appointed former Neiman Marcus CEO Geoffroy van Raemdonck to oversee the company during the transition. One of America's most storied luxury names is looking for a fresh start. Saks Global Enterprises—which includes Saks Fifth Avenue, the home goods specialist Horchow, and the di ...

Group 1 - The UK's FTSE 100 index experienced a slight increase on Thursday, indicating a cautious investor sentiment amid mixed corporate updates and economic data suggesting potential weakness [1] - Burberry's stock price rose following an upgrade in price target by HSBC, highlighting positive sentiment towards the luxury goods sector [1]

Market Trends & Strategies - Louis Vuitton launched "Louie" in Shanghai to navigate China's shifting luxury market [1][2] - Major brands believe China has stabilized but remain cautious about the outlook, retreating to prime locations in major cities [3] Sales Performance - Louis Vuitton reported a 7% increase in China sales in the third quarter [2] Consumer Behavior - "Louie" has attracted hundreds of thousands of visitors since its opening in June, raising questions about their spending willingness [4]

Summary of China Consumer Pulse Q3 2025 Industry Overview - **Industry**: Chinese Consumer Market - **Key Sectors Analyzed**: Alcohol, Apparel, Beauty, Travel, Luxury Goods, Autos Core Insights 1. **Mixed Consumer Sentiment**: Chinese consumer sentiment remains mixed, with a notable divergence in spending patterns across sectors [2][29][30] 2. **Experiential Spending Resilience**: Experiential categories such as restaurants (+24% YoY) and travel (+16% YoY) show resilience, indicating a shift towards experiences over goods [2][35] 3. **Premium Demand Recovery**: Onshore luxury spending has improved, with premium auto sales stabilizing and showing positive year-over-year growth in September, ending a 19-month decline [2][30] 4. **Digital Channels Outperform**: Digital retail channels continue to outperform traditional retail, although there are signs of weakness in specific segments like beauty e-commerce, which saw a -3% decline [2][29][30] 5. **GDP and Retail Growth Slowdown**: China's Q3 GDP growth slowed to 4.8% YoY, with retail growth easing to 2.1%, attributed to fading consumer incentives and macroeconomic uncertainties [3][29] 6. **Deflationary Trends**: Deflationary pressures persist across travel and hotel pricing, with moderate price declines observed [12][29] Sector-Specific Insights Premium Beverages - **Weak Demand**: Ultra-premium Baijiu prices continued to slide in Q3 due to weak demand, particularly around the Mid-Autumn Festival [4][30] Apparel and Sportswear - **Mixed Performance**: The apparel market is growing online but remains negative offline, with brands like Adidas showing over 20% growth while Nike faces challenges [5][22] Home Appliances - **Sector Contraction**: The home appliance sector contracted by 7% in Q3, with significant declines in both domestic and overseas exports [7][31] Luxury Goods - **Signs of Improvement**: Early signs of recovery in the luxury market, with brands like Hermès and Louis Vuitton performing well, while Kering struggles [8][9][30] Automotive - **Sales Growth Slowdown**: Auto sales growth slowed to +2.5% YoY in Q3, with EV sales decelerating to +12.5% YoY. However, EV penetration reached 55.1% [10][16][17] Hotels - **RevPAR Declines**: Domestic hotel RevPAR continues to decline, with luxury hotels being the only segment not experiencing persistent declines [10][23] Travel - **Resilient Growth**: The travel industry showed stable positive growth of 16% during the National Day Golden Week, reflecting ongoing domestic travel trends [11][12] Cosmetics - **Moderate Growth**: The cosmetics sector saw a +6.5% YoY increase in gross merchandise value, marking an improvement from previous quarters [13][29] Additional Considerations - **Cautious Consumer Behavior**: The macroeconomic environment is expected to lead to cautious, value-driven consumer behavior, highlighting the uneven recovery across sectors [3][32] - **Investment Implications**: The outlook for various sectors remains cautious, with potential growth in EVs and premium segments, while traditional sectors face challenges [16][17][22][23]

Core Viewpoint - Rosen Law Firm is investigating potential securities claims on behalf of shareholders of Brunello Cucinelli S.p.A due to allegations of materially misleading business information [1] Group 1: Investigation and Allegations - The investigation is prompted by a report from Morpheus Research, which claims that Brunello Cucinelli misrepresented the status of its Russian business operations [3] - The report alleges that Brunello Cucinelli stated its Russian store locations were shut in compliance with laws prohibiting luxury goods sales in Russia, while continuing to conduct business there [3] Group 2: Market Reaction - Following the news of the allegations, Brunello Cucinelli's American Depositary Receipts (ADRs) experienced a significant decline of 17.8% on September 25, 2025 [4] Group 3: Class Action Information - Investors who purchased Brunello Cucinelli securities may be entitled to compensation through a class action lawsuit, with no out-of-pocket fees due to a contingency fee arrangement [2] - Interested investors can join the class action by visiting the provided link or contacting the law firm directly [2] Group 4: Rosen Law Firm's Credentials - Rosen Law Firm has a strong track record in securities class actions, having achieved significant settlements and recognition in the field [5] - The firm has recovered hundreds of millions of dollars for investors, with notable achievements in 2019 and 2020 [5]

Core Insights - Macquarie Asset Management's "Macquarie Large Cap Growth Fund" reported a positive return of 11.24% in Q2 2025, but underperformed the Russell 1000 Growth Index, which returned 17.84% [1] Group 1: Fund Performance - The Fund's Institutional Class shares achieved an absolute return of 11.24% in Q2 2025 [1] - The Russell 1000 Growth Index outperformed the Fund with a return of 17.84% during the same period [1] Group 2: LVMH Moët Hennessy - Louis Vuitton - LVMH Moët Hennessy - Louis Vuitton, Société Européenne (OTC:LVMUY) had a one-month return of 6.44% but lost 9.07% over the last 52 weeks [2] - As of September 19, 2025, LVMH's stock closed at $120.15 per share, with a market capitalization of $303.8 billion [2] - The Fund exited its position in LVMH due to concerns about ongoing post-pandemic normalization and the difficulty in identifying growth catalysts [3] Group 3: Hedge Fund Interest - LVMH was held by 2 hedge fund portfolios at the end of Q2 2025, unchanged from the previous quarter [4] - The Fund acknowledges LVMH's potential but suggests that certain AI stocks may offer greater upside potential and less downside risk [4]