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HBC, the parent of Saks Fifth Avenue, agreed to acquire Neiman Marcus Group in a deal valued at $2.65 billion, combining Saks Fifth Avenue, Saks Off 5th, Neiman Marcus and Bergdorf Goodman under a new company, Saks Global, backed by equity from Amazon, Rhône Capital, Insight Partners and Salesforce.

Saks Global closed its purchase of Neiman Marcus Group at a final enterprise value of $2.7 billion, bringing Neiman Marcus and Bergdorf Goodman together with Saks Fifth Avenue and Saks Off 5th under the new, technology-powered luxury retail company first announced in July.

Goldman Sachs ended its policy of taking companies public in the US and Western Europe only if they had at least two diverse board members, one of them a woman, citing legal developments after Nasdaq's diversity rule was struck down.

Saks Global settled an exchange offer that raised roughly $600 million in new secured financing and swapped $2.2 billion of senior secured notes for new debt, after about 98% of eligible bondholders agreed to the terms, as the retailer worked to ease the strain from its Neiman Marcus acquisition.

Saks Global failed to make a bond interest payment of more than $100 million that was due on 30 December 2025, entering a grace period while it negotiated with creditors, just under five months after its last debt restructuring.