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Stock impact report

‘The consumers are still out there': why a bankruptcy for Saks Global may not spell the end [Yahoo! Finance]

News Corporation - Class A (NWSA) 
Last news corporation - class a earnings: 2/6 04:45 pm Check Earnings Report
US:NASDAQ Investor Relations: investors.newscorp.com/investor-relations
Company Research Source: Yahoo! Finance
Saks's Fifth Avenue location, so iconic that it's embedded in the brand's name, is usually dressed top to bottom during the holidays. In 2023, the store partnered with Christian Dior to display a giant zodiac calendar. As part of the light show, fireworks were released from the top of the store to the oohs and aahs of spectators. But in 2024, the show went dark. Saks Fifth Avenue was without its extravagant lights throughout the holiday season, for the first time since the show debuted in 2004. Money was tight that year. The company had just announced a $2.7bn deal to acquire competitor Neiman Marcus. To fund the deal, Saks borrowed $2.2bn. It was a “challenging year for luxury”, Saks told the New York Post at the time, but the company voiced optimism for the new year. After the acquisition, the newly created Saks Global company would oversee three luxury department store brands: Neiman Marcus, Bergdorf Goodman and Saks Fifth Avenue. But just more than a year after this new l Show less Read more
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