and entering into a restructuring support agreement with bondholders. Geoffroy van Raemdonck, Saks CEO, called it a “significant step” and hailed the “remarkable progress” his team had made over the past three and a half months. “The committed capital we have secured, along with the growing momentum across our business, sets the stage for a successful future,” he added. “With adequate resources to invest in our capabilities, customer experience and merchandise assortment, we are confident in our ability to drive profitable growth for Saks Global and sustained revenue growth for our partners in the years ahead.” Overall, since filing for Chapter 11 bankruptcy in January, Saks Global has recorded notable wins, including a 6 per cent increase in customer spend per store visit, an 11 per cent increase in online conversion, and improved full-price selling across its luxury retail banners. Saks Global has set a high bar for its post-bankruptcy plan In filings last week, Saks Global stated that by fiscal year 2030, it expects to generate $9 billion in total gross merchandise value – close to doubling from 2026 – and to reach double-digit adjusted EBITDA. This sets a high expectation that Saks Global’s revenue will grow about 5.5 per cent from fiscal 2029 to 2030, reaching nearly $7.2 billion that year. Currently, revenue for fiscal year 2026 is expected to reach about $5.3 billion, including the bankruptcy months from February to May. The projections reflect a compound annual growth rate (CAGR) of roughly seven per cent between fiscal years 2027 and 2030. For fiscal year 2026, Saks Global is expected to report a net loss of $135 million, and could potentially swing into the black in fiscal year 2029, with a projected $99 million in net income. Additionally, Saks Global stated that it plans to raise sufficient liquidity to fulfill obligations to stakeholders and support its transformation. At emergence, Saks Global anticipates having nearly $700 million in liquidity, which the company expects to increase over time as it drives continued momentum and positive cash flow. However, to achieve these goals, Saks Global will need to repair its vendor relationships, which soured largely due to a failure to pay for shipped merchandise. In court filings from Friday, the business reported steady progress on this front, stating that nearly 720 brands have resumed shipping and that it has released $1.6 billion in retail receipts. What steps does Saks Global need to take next? Saks Global will not emerge from bankruptcy overnight, several retail experts noted. As Neil Saunders, managing director at GlobalData, told Inside Retail, “This is a good step on the road to emerging from bankruptcy, and it looks like Saks Global will come out of the process as a more stable business. “However, more stable does not mean completely stable, as the firm will still carry a huge debt load. It has also set some very ambitious targets for revenue growth, and it is debatable how achievable those are, especially in the current market. So, Saks Global has more time and breathing space, but it does not have a guaranteed path to success.” However, as retail strategist Christine Russo, principal of RCCA, pointed out, “Saks Global’s impending bankruptcy exit places significant faith in projections. They project doubling their current revenue to nine billion in just under five years.” The brand’s confidence, along with recently improved numbers, indicates potential in the months ahead. During this reprieve under bankruptcy protection, vendor relationships and the company’s reputation needed to be repaired. “Reports indicate that the mending has begun, as vendors have started shipping. Additionally, physical retail, on the whole, is generally growing stronger, which also benefits the company. If they can create magic in their stores and use logic to run the business, they could be successful,” Russo concluded. Further reading: What does the future of luxury retail in America look like post-Saks Global?