On December 30, 2025, it was reported, Saks could be the next department store to seek relief in bankruptcy court amid growing liquidity challenges. Saks Global Enterprises, the parent corporation of Saks Fifth Avenue, Saks OFF 5TH, Neiman Marcus, and Bergdorf Goodman, is weighing a Chapter 11 bankruptcy filing as they contend with mounting debt, people familiar with the matter told Bloomberg. This decision comes as the retailer is facing a more than $100 million debt payment due at the end of December. SAKS FIFTH AVENUE SHUTTING DOWN SAN FRANCISCO AFTER 45 YEARS. Reports began circulating that CEO Marc Metrick may also be preparing to step down. Metrick took the helm in December 2024 when Saks Global finalized its $2.7 billion acquisition of Neiman Marcus Group. Under the terms of the deal, Saks Global added Neiman Marcus and Bergdorf Goodman to its portfolio and appointed Metrick to lead the Saks Global Operating Group, which includes Saks Fifth Avenue and Saks OFF 5TH. But it has been seeking to alleviate financial pressures ever since. Over the past year, Saks cut hundreds of jobs and shuttered stores and corporate offices. In fact, Saks Fifth Avenue, along with Saks Off 5th and Hudson's Bay stores, also closed the majority of its locations in the Canadian market. It will continue closing stores next year as well. For instance, it's already planning to close certain Saks OFF 5TH stores starting in early 2026 as part of a broader effort to "optimize" its store. In September, reports surfaced that it was even exploring the sale of a minority stake, about 49%, in Bergdorf Goodman for about $1 billion. People familiar with the matter told The Wall Street Journal that there had been at least four potential bidders.
On December 19, 2025, it was reported, Global container spot rates rose sharply again this week, extending a multiweek uptick as carriers pushed through higher pricing on the trans-Pacific and Asia-Europe trade lanes, according to shipping analytics firm Drewry. Its World Container Index increased 12% to $2,182 per 40-foot container in its latest assessment. The gain marks the third consecutive weekly increase and continues a trend that began earlier this month after rates fell to near-year lows. Rates across all major lanes saw increases, with routes from Shanghai to New York jumping 19% to $3,293 per 40-foot container, while rates to Los Angeles climbed 18% to $2,474. Drewry said carriers have tightened capacity to support pricing, with 10 blank sailings announced for the coming week on the trans-Pacific trade lane. The reduction in available sailings has buoyed rates despite generally soft demand conditions. Asia-Europe routes also posted gains. Spot rates from Shanghai to Genoa rose 10% to $3,314 per 40-foot container, while Shanghai to Rotterdam increased 8% to $2,539. Rates on the lane have now held stable or moved higher for three consecutive weeks. That trend appears to be continuing this year, with carriers already reporting early bookings ahead of the Lunar New Year in February 2026. The earlier-than-usual booking activity has given carriers more leverage to sustain higher spot rates late into the year. Drewry expects rates to edge up slightly again next week due to continued capacity management and seasonal demand. The firm cautioned that broader market fundamentals remain fragile, with pricing sensitive to any easing of capacity controls or shifts in demand once the holiday-driven surge fades.
On December 11, 2025, it was reported, Hooker Furnishings reported a deeper third-quarter loss as hospitality project timing, non-cash impairment charges and continued macroeconomic pressure weighed on results, but executives said the company's recent strategic divestiture and upcoming product launches have set it on a clearer path toward profitability. For the quarter ended Nov. 2, consolidated net sales fell 14.4% from the prior year, driven primarily by an $11 million decline in Samuel Lawrence Hospitality (SLH) shipments. Operating loss totaled $16.3 million, largely the result of $15.6 million in non-cash intangible impairment charges. Loss from discontinued operations was $8.6 million. The company also completed a major portfolio shift. On Dec. 1, Hooker announced the sale of its Pulaski Furniture and Samuel Lawrence Furniture value-priced brands within the Home Meridian (HMI) segment. T Margaritaville launch exceeds expectations Hooker executives highlighted what they view as the company's most significant organic growth driver: the new Margaritaville licensed collection, which debuted at the October High Point Market. The company said 55 retailers have already committed to installing Margaritaville-branded galleries. Hoff said the company's revised warehouse strategy centered on its new Vietnam facility now allows "collections from our various suppliers to be mixable in single containers and providing six to 10-week fulfillment to our customers' door,". S&A expenses declined $5.9 million in Q3 and $9.7 million year-to-date, reflecting restructuring progress . Hooker repaid $17.9 million of debt year-to-date and ended the quarter with $63.8 million in borrowing capacity. Inventory decreased to $52.1 million.
On December 11, 2025, it was reported, Hooker Furnishings reported a deeper third-quarter loss as hospitality project timing, non-cash impairment charges and continued macroeconomic pressure weighed on results, but executives said the company's recent strategic divestiture and upcoming product launches have set it on a clearer path toward profitability. For the quarter ended Nov. 2, consolidated net sales fell 14.4% from the prior year, driven primarily by an $11 million decline in Samuel Lawrence Hospitality (SLH) shipments. Operating loss totaled $16.3 million, largely the result of $15.6 million in non-cash intangible impairment charges. Loss from discontinued operations was $8.6 million. The company also completed a major portfolio shift. On Dec. 1, Hooker announced the sale of its Pulaski Furniture and Samuel Lawrence Furniture value-priced brands within the Home Meridian (HMI) segment. T Margaritaville launch exceeds expectations Hooker executives highlighted what they view as the company's most significant organic growth driver: the new Margaritaville licensed collection, which debuted at the October High Point Market. The company said 55 retailers have already committed to installing Margaritaville-branded galleries. Hoff said the company's revised warehouse strategy centered on its new Vietnam facility now allows "collections from our various suppliers to be mixable in single containers and providing six to 10-week fulfillment to our customers' door,". S&A expenses declined $5.9 million in Q3 and $9.7 million year-to-date, reflecting restructuring progress . Hooker repaid $17.9 million of debt year-to-date and ended the quarter with $63.8 million in borrowing capacity. Inventory decreased to $52.1 million.
