MajorsApr 02, 2026
Pandora Opens New Canadian Distribution Center Amid Tariff ConcernsMajorsApr 03, 2026
Saks Global Says It Will Emerge From Bankruptcy This Summer
The luxury retailer, which went Chapter 11 in January, announced Thursday that it has secured $500 million in exit financing.
The Neiman Marcus store at The Shops At Clearfork in Fort Worth, Texas. Neiman Marcus’ parent company, Saks Global, has secured funding from an ad hoc group of its senior secured bondholders. The company said it expects to file its reorganization plan in the coming weeks and emerge from bankruptcy this summer.
New York—Saks Global announced Thursday that it has secured $500 million in exit funding from a group of its creditors and plans to emerge from bankruptcy this summer.
The luxury retailer filed for Chapter 11 bankruptcy protection back in January.
Since its filing, Saks Global has been working on repairing relationships with key brands, relationships that were damaged by the retailer’s failure to pay its vendors.
On Tuesday, it said more than 650 brands had resumed shipping merchandise to its retailers—up from 500 a month ago—releasing $1.5 billion in retail receipts. This accounts for more than 90 percent of the retailer’s expected inventory for the first quarter of fiscal year 2026.
Because brands have resumed shipping to Saks Global’s retailers, the company said its March inventory receipts are up 18 percent year-over-year.
Having fresh inventory in its stores is leading to “improved customer engagement,” the company said.
Customers are spending 6 percent more per store visit, online conversion rates have jumped 11 percent, and there have been “significant improvements” in full-price selling compared with the same period last year, the company said.
Related stories will be right here …
The luxury retailer filed for Chapter 11 bankruptcy protection back in January.
Since its filing, Saks Global has been working on repairing relationships with key brands, relationships that were damaged by the retailer’s failure to pay its vendors.
On Tuesday, it said more than 650 brands had resumed shipping merchandise to its retailers—up from 500 a month ago—releasing $1.5 billion in retail receipts. This accounts for more than 90 percent of the retailer’s expected inventory for the first quarter of fiscal year 2026.
Because brands have resumed shipping to Saks Global’s retailers, the company said its March inventory receipts are up 18 percent year-over-year.
Having fresh inventory in its stores is leading to “improved customer engagement,” the company said.
Customers are spending 6 percent more per store visit, online conversion rates have jumped 11 percent, and there have been “significant improvements” in full-price selling compared with the same period last year, the company said.
Saks Global also is in the process of closing underperforming locations and narrowing its focus to its core banners: Saks Fifth Avenue, Neiman Marcus, and Bergdorf Goodman.
The company began announcing store closures in January, initially saying it would ax eight Saks Fifth Avenue locations (full list here) and the Neiman Marcus store in Boston’s Copley Place.
In March, it said it planned to close 15 more stores: 12 Saks Fifth Avenue and three Neiman Marcus locations, though it later reversed course on three of those stores.
The closures will leave Saks Fifth Avenue with 15 stores, less than half the number it had when it filed for bankruptcy (about 33, according to The Wall Street Journal), and Neiman Marcus with 33 stores.
Saks Global also said it will close all but three of its Fifth Avenue Club personal styling suites, most Saks Off Fifth stores, and all Last Call stores. (Last Call was Neiman Marcus’ off-price chain.)
The Horchow website has been shut down, with customers redirected to the Neiman Marcus website, as has the Saks Off Fifth website.
There have been no changes announced for Bergdorf Goodman, which has two stores across the street from each other in New York City, one catering to women and the other to men.
“Achieving this important milestone underscores the progress we are making on our transformation and reflects our capital partners’ confidence in our go-forward vision, guided by our relentless devotion to the luxury customer,” Saks Global CEO Geoffroy van Raemdonck said in the news release announcing the financing.
“As we advance the restructuring process and position Saks Global for the future, our focus remains on strengthening our brand partner relationships and delivering an expertly curated product assortment and personalized service for our luxury customers across Saks Fifth Avenue, Neiman Marcus, and Bergdorf Goodman.”
The Latest
CollectionsApr 03, 2026
Taylor Swift’s ‘Elizabeth Taylor’ Video Puts Jewelry Front and CenterIconic pieces, like the Mike Todd Diamond Tiara, appear in the superstar’s new music video for her song inspired by the actress.
Events & AwardsApr 03, 2026
JCK Luxury, NouvelleBox Partner on New Designer BallroomThe NouvelleBox ballroom will feature independent jewelry designers, including Lene Vibe, Wyld Box Jewelry, and Kiaia Limited.
CollectionsApr 03, 2026
Buddha Mama Brings Its ‘Moon’ Locket To DallasThe one-of-a-kind locket, our Piece of the Week, opens to reveal three hidden images to keep close to your heart.
Brought to you by
Protect Your Customers and Your BusinessYou deserve to know what you are selling–to protect your customers as well as your business and your reputation.
TrendsApr 02, 2026
Michelle Yeoh Fronts New Mikimoto Campaign The campaign is a tribute to the year 1893, when Kokichi Mikimoto created the world’s first cultured pearl.
Weekly QuizApr 02, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
GradingApr 02, 2026
GIA Debuts New Campus in TaiwanIt is the only GIA school to offer the GIA Graduate Gemologist program in Chinese.
MajorsApr 02, 2026
Hoover & Strong Names New National Sales RepresentativeThe wholesale manufacturer and precious metals refiner has appointed Michael Angelo as its new national sales representative.
Brought to you by
Is This You? Every Jeweler Has This Problem; We Have the Solution.Every jeweler faces the same challenge: helping customers protect what they love. Here’s the solution designed for today’s jewelry business.
MajorsApr 01, 2026
Foundrae Sues Pandora for Allegedly Copying Its Medallion DesignsFoundrae also accused the jewelry giant of copying its mood board style of marketing.
AuctionsApr 01, 2026
John Jacob Astor IV’s Titanic Pocket Watch Heads to AuctionA Patek Philippe for Tiffany & Co. timepiece owned by the American businessman who died on the Titanic will be offered at Freeman's Chicago.
SurveysApr 01, 2026
Consumers’ Outlook Improves Again in MarchThe Conference Board’s Consumer Confidence Index edged up, with optimism about the present outweighing worries about the future.
IndependentsApr 01, 2026
Zachary’s Jewelers’ Constance Polamalu to Release Children’s BookThe retailer’s Zach Bear gift comes to life in “Zach Bear and the Window Necklace,” which centers on curiosity, bravery, and helping.
Events & AwardsApr 01, 2026
AGA Opens 2026 Gemological Scholarship, Research Grant ApplicationsApplications are open for the AGA Gemological Scholarship Program through May 15, and until June 2027 for the Gemological Research Grant.
ColumnistsMar 31, 2026
Q1 Clues That Reveal Where Your Jewelry Store’s Sales Are Heading These customer behavior patterns say a lot about how successful your jewelry store is going to be this year, Emmanuel Raheb writes.
CollectionsMar 31, 2026
Mejuri Adds Silver to ‘Puzzle’ CollectionMejuri’s popular collection of 18-karat yellow gold vermeil rings debuted in sterling silver alongside new “Puzzle” slider charms.
CollectionsMar 31, 2026
Buddha Mama, Ashley Longshore to Host Pop-Up in DallasThe Miami-based jewelry brand and the NYC-based artist will be in Dallas from April 9-11.
SourcingMar 31, 2026
NDC Designates April 8 as 'World Diamond Day'The initiative invites those in the industry to share stories on social media highlighting the meaning and impact of natural diamonds.
SourcingMar 31, 2026
GIA VP Jillian Wolk to Take Over at Tracr Wolk’s first day on the job as CEO of Tracr, De Beers Group’s blockchain platform, will be May 1.
EditorsMar 30, 2026
Tom Moses Looks Back on His Decades at GIA Moses, who will leave the lab in May after nearly 50 years, discusses his start in the business, gemstones that stand out, and what’s next.
TrendsMar 30, 2026
Oscar Heyman Debuts First Spring CatalogThe new catalog, which showcases 35 one-of-a-kind pieces of jewelry, is a compliment to the company’s popular holiday catalog.
SourcingMar 30, 2026
Rio Tinto Hauls Last Load from DiavikProduction has ceased at the Canadian diamond mine, which has yielded more than 150 million carats of rough diamonds in its 23-year run.
MajorsMar 30, 2026
Tanishq Opens First New England LocationThe store opening marks the 10th United States location for the India-based jewelry retailer.
MajorsMar 27, 2026
Saks Global Has Changed Its Mind About Closing These 3 StoresTwo Saks Fifth Avenue locations, one in Florida and one in California, and one Neiman Marcus store are off the chopping block.
IndependentsMar 27, 2026
Jimmy West, Longtime LJG Executive Director, Dies at 72West, who started in the art department at the Leading Jewelers Guild in 1979, is remembered for his patience, kindness, and dedication.
CollectionsMar 27, 2026
Itä’s ‘Yarí Whirl’ Ring Tells Every Side of the StoryIn the “Tesoro” version of the ring, our Piece of the Week, each side of the gold hexagonal nugget has a unique colored gemstone design.
WatchesMar 26, 2026
Q&A: Citizen Watch America President Jeffrey Cohen on Eco-Drive’s 50th AnniversaryCohen discusses the evolution of Citizen’s light-powered technology, the brand’s cross-generational appeal, and tariffs.
IndependentsMar 26, 2026
Peter Smith Pens Book on Human Behavior in Sales“Essentially Human: On Sales and Salespeople" reveals the underlying human traits and behaviors of the most successful sales professionals.
