A major Saks Inc. shareholder sold off millions of shares in the past few days at about $15 a share, capitalizing on a price that’s increased since the luxury chain went up for sale.
Sources believe Southeastern Asset Management Inc. was the seller of a major chunk of Saks stock. The investment advisory firm did not return a request for comment Tuesday, but a block of 3.7 million shares of Saks was sold at about $15.20 late Monday.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"