Saks Global's challenges grow as it moves to cut costs and hold payments to vendors. Even more challenging, Saks trails in foot traffic to luxury department stores.

Hudson’s Bay Company (HBC), parent company of Saks Fifth Avenue, has completed the acquisition of Neiman Marcus Group, a US-based department store chain, for a total enterprise value of $2.7bn.

At first, he seemed to revitalize the store, eventually folding it into his Hudson's Bay Company (HBC) in 2012, along with Saks Fifth Avenue. But by 2017, it was clear that Lord & Taylor's ...