For more than a year, Saks Fifth Avenue has been slow to pay for some of its merchandise, resulting in complaints by some vendors and others holding back on shipments. In a memo sent to suppliers Feb. 14, The Wall Street Journal reports, Saks sought to reassure the brands that stock its stores, saying it would pay for new orders within 90 days of receipt and that all past-due payments would be paid in 12 installments starting in July.
“I understand and am sympathetic to the last 18 months and the challenges regarding payments,” wrote Marc Metrick, CEO of Saks Global (New York), the newly formed entity created by Saks’ merger with Neiman Marcus (Dallas). “Our expectation is that this provides the clarity and certainty you have been seeking. To that end, we are looking forward to seeing the flow of merchandise return to normal levels.”
The retailer had been conserving cash as it negotiated to buy Neiman Marcus. That deal closed shortly before Christmas and Metrick said that merger has strengthened the company’s financial position, the Journal said.
“We are committed to fulfilling all of our obligations to our brand partners, and ask that you continue to partner with us, including by shipping merchandise, so that we can grow our business together,” he wrote.
Ready to Relocate? Wilkerson Makes Your Move Seamless
When Brockhaus Jewelry decided to leave their longtime West Main Street storefront for a standalone building elsewhere in Norman, Oklahoma, owners John Brockhaus and Brad Shipman faced a familiar challenge: how to efficiently reduce inventory before the big move. Their solution? Partnering with liquidation specialists Wilkerson for a second time.
"We'd already experienced Wilkerson's professionalism during a previous sale," Shipman recalls. "But their approach to our relocation event truly impressed us. They strategically prioritized our existing pieces while tactfully introducing complementary merchandise as inventory levels decreased." The carefully orchestrated sale didn't just meet targets—it shattered them.
Asked if they'd endorse Wilkerson to industry colleagues planning similar transitions—whether relocating, retiring, or refreshing their space—both partners were emphatic in their approval. "The entire process was remarkably straightforward," Shipman notes. "Wilkerson delivered a well-structured program, paired us with a knowledgeable advisor, and managed every detail flawlessly from concept to completion."
