Capri Works To Resume Shipments to Saks -- Market Talk

Dow Jones02-03 23:57

1057 ET - The parent of Michael Kors and Jimmy Choo said it was working with Saks Global to begin shipping the retailer again after it filed for bankruptcy protection in January. "We're excited about the new management team that's leading Saks Global," said John Idol, the CEO of Capri. "We have a lot of confidence in what their strategy is. We also think that a leaner Saks Global will be one that will be successful and very focused. And so we intend on being very, very supportive of their strategies and to help them succeed." Capri said it had reserved $15 million against losses related to the bankruptcy of Saks Global, which owns Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman. In Saks's bankruptcy filing, Capri is listed as an unsecured creditor that is owed $33 million. (suzanne.kapner@wsj.com)

(END) Dow Jones Newswires

February 03, 2026 10:57 ET (15:57 GMT)

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We also think that a leaner Saks Global will be one that will be successful and very focused. And so we intend on being very, very supportive of their strategies and to help them succeed.\" Capri said it had reserved $15 million against losses related to the bankruptcy of Saks Global, which owns Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman. In Saks's bankruptcy filing, Capri is listed as an unsecured creditor that is owed $33 million. 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We also think that a leaner Saks Global will be one that will be successful and very focused. And so we intend on being very, very supportive of their strategies and to help them succeed.\" Capri said it had reserved $15 million against losses related to the bankruptcy of Saks Global, which owns Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman. In Saks's bankruptcy filing, Capri is listed as an unsecured creditor that is owed $33 million. 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