Saks Global, the parent company of Saks Fifth Avenue, is considering selling a minority stake in Bergdorf Goodman to decrease debt. Demand for luxury goods in the US is uncertain due to inflation and tariffs. Saks Global, formed last July after acquiring Neiman Marcus, is exploring the stake sale to optimize assets. The Wall Street Journal reported talks with bidders for a 49% stake in Bergdorf Goodman for $1 billion. Bergdorf Goodman, known for brands like Gucci and Prada, operates stores on Fifth Avenue in Manhattan. The buyer would only receive a stake in the operating company, not the real estate.

Read more at Yahoo Finance: Saks Global seeks to sell minority stake in luxury retailer Bergdorf Goodman