JWN News & Events

Saks Global, the parent of Saks Fifth Avenue and Neiman Marcus, has filed for bankruptcy protection, The Wall Street Journal's Suzanne Kapner and Becky Yerak report. Former Neiman Marcus CEO Geoffroy van Raemdonck has been selected to lead Saks through bankruptcy as its CEO, effective immediately, according to the report, which adds that Saks has secured roughly $1.75B in financing for the process. Publicly traded companies in the space include Macy's (M), Kohl's (KSS), Dillard's (DDS).

The Nordstrom family and El Puerto de Liverpool S.A.B. de C.V. are acquiring Nordstrom in a deal expected to be completed on May 20.

Nordstrom announced that Erik, Pete, Jamie Nordstrom and other members of the Nordstrom family and El Puerto de Liverpool, S.A.B. de C.V. have completed their all-cash acquisition of Nordstrom for $24.25 per share. Shareholders of the company will also be paid cash dividends of 25c per share and 14.62c per share, reflecting the special cash dividend and a "stub period" quarterly dividend. With the completion of the transaction, Erik and Pete Nordstrom will lead the company as Co-CEOs. Nordstrom common stock will cease trading prior to the opening of the New York Stock Exchange on May 21, 2025 and will be delisted from the NYSE as of May 21, 2025.