The Latest Breaking News from Marc Metrick

How a real estate scion's risky dealmaking pushed Saks Global to the brink

With vendors angry and luxury shoppers deserting in droves, the department store chain’s new CEO, Richard Baker, faces a tough slog.

Fortune · Jan 6

Saks CEO Steps Down: What Went Wrong in the Final Months

Saks Global replaces its CEO amid debt pressure, missed payments, and a slowdown in luxury sales, exposing the risks of rapid expansion and bold mergers.

International Business Times UK · Jan 6

Luxury Giant in Freefall: Saks 'Desperate' to Lock Down $1B Financing After Skipping Huge Debt Payment

Saks Global races to secure $1B in emergency financing as bankruptcy looms after missing a $100M bond payment linked to its troubled Neiman Marcus deal.

International Business Times UK · Jan 5

Market conditions aren't stopping rich consumers from buying luxury goods. Saks's CEO has a theory why

Saks's CEO Marc Metrick isn't new to economic swings and market volatility—nor are his well-heeled customers.

Fortune · Jan 6, 2023

Inflation, Recession Fears Have Holiday Shoppers Trading Down

Many shoppers are trading down to less expensive clothing and accessories -- swapping Lululemon leggings for Uniqlo and expensive lingerie for Target bras and panties -- as inflation eats into their disposable income and a rocky stock market erodes their wealth.

Bangkok Post · Nov 7, 2022