Saks Global Files for Bankruptcy Protection, Uncertainty Looms Over Luxury Retail
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
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Source: Newsfilter
- Bankruptcy Filing: Saks Global filed for bankruptcy protection on January 11, 2026, marking one of the largest retail collapses since the pandemic, highlighting the fragility of the luxury market.
- Financing Plan: Despite the bankruptcy, Saks is negotiating a $1.75 billion financing package with creditors to keep its stores operational, reflecting the company's intent to survive amid crisis.
- Major Creditors: Court filings reveal that Saks' largest unsecured creditors include Kering, the owner of Chanel and Gucci, with debts of approximately $136 million and $60 million respectively, underscoring the severity of its financial troubles.
- Merger Background: In 2024, parent company Hudson's Bay merged with rival Neiman Marcus to create Saks Global in a $2.7 billion deal, burdened with about $2 billion in debt, illustrating the consolidation trend in the luxury retail sector.
Analyst Views on AMZN
Wall Street analysts forecast AMZN stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for AMZN is 294.71 USD with a low forecast of 250.00 USD and a high forecast of 340.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
43 Analyst Rating
40 Buy
3 Hold
0 Sell
Strong Buy
Current: 246.470
Low
250.00
Averages
294.71
High
340.00
Current: 246.470
Low
250.00
Averages
294.71
High
340.00
About AMZN
Amazon.com, Inc. provides a range of products and services to customers. The products offered through its stores include merchandise and content it has purchased for resale and products offered by third-party sellers. The Company’s segments include North America, International and Amazon Web Services (AWS). It serves consumers through its online and physical stores and focuses on selection, price, and convenience. Customers access its offerings through its websites, mobile apps, Alexa, devices, streaming, and physically visiting its stores. It also manufactures and sells electronic devices, including Kindle, Fire tablet, Fire TV, Echo, Ring, Blink, and eero, and develops and produces media content. It serves developers and enterprises of all sizes, including start-ups, government agencies, and academic institutions, through AWS, which offers a set of on-demand technology services, including compute, storage, database, analytics, and machine learning, and other services.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
