NEW YORK — Mexican billionaire investor Carlos Slim Helú has sold 1.5 million shares of Saks Inc., bringing his stake in the luxury retailer down to 25 million shares.
At 25 million shares, he still owns 16.5 percent of Saks.
Shares of Saks Inc. closed at $11.66 Thursday in trading on the New York Stock Exchange. At 25 million shares, Slim’s Saks holding is worth $291.5 million.
The series of share sales took place on Monday and Tuesday, according to filings with the Securities and Exchange Commission Wednesday. The disposed shares totaled $17.8 million, or an average per-share price of $11.75.
With a 16.5 percent stake, based on Saks’ total diluted shares outstanding of 151.2 million as of July 28, Slim is still Saks’ single-largest shareholder. That puts him ahead of Diego Della Valle, Tod’s SpA chairman and chief executive officer. Della Valle’s stake totals 22.7 million shares, or 15 percent.
For awhile, the two had been in a pattern where one buys up Saks shares to leapfrog over the other as the top direct holder, only to have the other come back and take over the lead. That buying pattern contributed to speculation that a takeover of Saks might be in the works, although neither one has said he wanted control of the luxury chain.
The shares were acquired by Slim through his Mexican trust Inmobiliaria Carso SA de CV. Slim family members are beneficiaries of the trust. He last acquired 876,000 shares of Saks in a series of purchases over a two-day period in August 2011, two days after the retailer posted second-quarter results that showed reduced losses.
This time Slim’s stock sales came a week after the chain posted a second-quarter net loss of $12.3 million, or 8 cents a diluted share, although the loss was smaller and the sales gain larger than expected.
Stephen I. Sadove, Saks’ chairman and ceo, said a week ago following the earnings release that the luxury customer is healthy and spending has held up, although “it’s not as robust as a year ago.”
Women’s designer apparel was the letdown for the quarter as traditional styles and classic brands didn’t sell as well as contemporary lines.
“What he has done at Vuitton is really exceptional,” said @gameofthrones’ actress Gwendoline Christie on @mrkimjones’ final show for @louisvuitton. “He has rebooted luxury in terms of making it commercial, viable and contemporary. And most importantly artistic. He has never compromised his artistic vision for the sake of commodity.” (📷: @zefashioninsider)
After seeing a demand for men’s wear from its customers, British contemporary women’s wear label @ariesarise has added a men’s wear component and will launch a unisex collection with @mrporterlive. The 20-piece collection includes jackets, denim, logo T-shirts and more with deconstructed ‘90s vibes. Set to launch on January 18, you can shop the pieces on Aries’ website and on mrporter.com. #wwdfashion
“And so spending so much time with a character who thinks like that, inevitability you try and analyze yourself and go back and think about your own demons and dark chapters that you had in your life,” says @thedanielbruhl of his role in TNT’s “The Alienist.” The show, set in the Gilded Age of New York, also stars Dakota Fanning and Luke Evans. Head to WWD.com to read about how 39-year-old Brühl prepared for the role and why he thinks the show is so relevant to today #wwdeye ( 📷: @Eriktanner)
Now that Celine Dion’s collection has topped $10 million in sales, the pop superstar, fashion icon and newly-minted industry player is eyeing growth in Asia. Read the full report by @tiffanyap, link in bio. #wwdnews #celinedion
“My personal philosophy to beauty is paying attention to oneself. I love to be outdoors, lots of fresh air, trying to take care of yourself as best you can. I always notice that comes through,” says Felicity Jones, the global face of @shiseido-owned @cledepeaubeauteus, which launches today. Head to WWD.com to read more about the actress’ love for beauty and how she prepared for her new role in “The Basis of Sex,” playing the young Ruth Bader Ginsburg. #wwdbeauty (📷: @dandoperalski)
Among the familiar faces at @off____white’s show was a surprise figure: Japanese artist @takashipom, pictured here on Wednesday morning. Other show-goers included @jerrylorenzo, who spoke about his upcoming project: a @nike collaboration for back to school, with designs inspired by his childhood on the West Coast. Sitting in the front row were Future, Don Crawley, @miguel and more. See the rest of the photos on WWD.com #wwdeye (📷: Stephane Feugere)
According to @laurentsai, former “Terrace House: Aloha State” cast member, she didn’t know she was auditioning for the Japanese version of “Real World.” “I was telling a couple of my friends and someone’s like, ‘That sounds a lot like Terrace House.’ I was like, ’No it can’t be.’” Turns out, it was. But Tsai isn’t just a reality star — she’s an illustrator who has worked with Starbucks Japan and most recently, she’s dipping her toes into the fashion world. Head to WWD.com to read about her time on the show, modeling and her art. #wwdeye (📷: @danieldorsa)
More changes are coming to New York Fashion Week: Beginning with the spring 2019 collection, @alexanderwangny will move his New York show to June from September, adopting a biannual schedule with collections shown in June and December. Additionally, the @cfda is planning for an official summer/winter fashion season taking place as soon as June and December 2018. Read more about the upcoming changes on WWD.com. #wwdnews #wwdfashion (📷: @slovekinpics)