Saks Global Cuts Stores, Boosts Shipments
Irvine News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Saks Global, parent of Saks Fifth Avenue and Neiman Marcus, is closing more stores amid bankruptcy, focusing on top earners and debt reduction. Twelve Saks Fifth Avenue and three Neiman Marcus stores will shut down by May, leaving thirteen Saks Fifth Avenue and thirty-two Neiman Marcus locations. Despite closures, five hundred brands have resumed shipments, releasing nearly one point three billion dollars in retail receipts, covering over eighty percent of inventory from February to April.
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