O. Mason Hawkins apparently likes what he sees in Saks Inc.Hawkins, whose Southeastern Asset Management Inc. late last year eclipsed both Mexican billionaire Carlos Slim Helú and Tod’s SpA chief executive officer Diego Della Valle to become Saks’ biggest shareholder, has added more Saks shares to his portfolio to elevate the investment fund’s stake to 19.2 percent, up from the 17.8 percent reported to the Securities and Exchange Commission in December. According to SEC paperwork filed Thursday, Memphis-based Southeastern and its Longleaf Partners Small-Cap Fund affiliate now hold almost 29.6 million shares of the luxury retailer, above the 27 million reported to the SEC in December.Saks shares Thursday closed at $11.30, up 31 cents or 2.8 percent, putting the value of Southeastern’s entire stake at $334 million. It also implies an $18 million paper profit on the stake held at the end of last year.The timing of the additional purchases, amounting to about 2.6 million shares, couldn’t be ascertained from Southeastern’s SEC filings.Hawkins, who has had an on-again, off-again relationship with Saks as an investor dating back to its days as Proffitt’s in the Nineties, is chairman and ceo of Southeastern. Among its other investments is Chesapeake Energy Corp., which added former Saks chairman R. Brad Martin to its board last year.Southeastern leapfrogged over both Slim and Della Valle in December. Neither of the two other largest investors appears to have increased his stake in the retailer. Slim’s most recent SEC filing, submitted this week, shows his stake static at 23.1 million shares, or 15.3 percent of those outstanding. Della Valle hasn’t updated information about his holdings since Saks reported last April, in its definitive proxy, that he owned 22.7 million shares, or about 14.3 percent. When the proxy was filed, Southeastern held 17.8 million shares, or an 11.2 percent stake.Saks declined to comment on the investments and calls to Southeastern weren’t returned by press time Thursday.Southeastern’s filing contained standard language indicating that its purchases have been made in the “normal course of business” and not to pursue or effect a change of control of the company.Saks is scheduled to disclose fourth-quarter and full-year financial results on Feb. 26. On average, analysts expect it to report earnings of 15 cents a diluted share, down from 17 cents in the comparable 2011 period, on revenues of $966.6 million, 4.5 percent higher than the year-ago level.
Exclusive: @isabelmarant and @lorealmakeup have teamed up to create a capsule makeup collection. "She is rather natural in the day but doesn't have time to go back home before going out [in the evening] and redo her entire beauty look," said Marant on the 5 products included in the collection, which will launching in September. Read @jenniferbethweil's interview with the designer on WWD.com. #wwdnews #wwdbeauty
After 17 years, Tomas Maier is leaving @bottegaveneta. “I am deeply grateful to him and I personally thank him for the work he accomplished, and for the exceptional success he helped to achieve,” said François-Henri Pinault, head of parent company @kering_official. Head to WWD.com for more on his departure. #wwdnews #wwdfashion (📷: Davide Maestri)
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Today we’re at the WWD Retail 20/20 Forum where industry leaders will be talking about the future of shopping for fashion, footwear and beauty. Tune in on Instagram Live at 9 am and 3:30 pm to hear from two of our speakers –– @therealreal’s Rati Levesque and @bandier’s Stephen Ippolito. #wwdsummits (📷: @elizaflorendo)
Seen last night at @coach’s launch party for “Life Coach,” an interactive pop-up in Soho: @joansmalls. Open now, visitors of the pop-up can engage in themes of “creativity and self-expression,” through tarot, carnival games, live performances and art. See the rest of the party pics on WWD.com. #wwdeye (📷: @vnina)
“We figure there’s enough cynicism to go around the world right now let’s go out there and be ourselves, let’s be enthusiastic, let’s have positive energy, which is something I think a lot of people really want and need right now,” said musician @joshgroban ahead of hosting the Tony Awards with @sarabareilles. Read @leighn’s interview with Groban on how he picked his look for the night, his next record and more on WWD.com. #wwdeye #tonyawards (📷: @vnina)
“Rock as an attitude and not a uniform. Street as a style and not just clothing. Sportswear as the new normality,” @paul_surridge said of his first @roberto_cavalli men’s wear collection, previewed here. The British designer joined the brand as the creative director in May 2017, and is gearing up to unveil his debut for the label with a runway show at the Florence Charterhouse on June 13 at #PittiUomo. Head to WWD.com to read more about his collection and see more sneak peek photos. #wwdfashion (📷: @simonelezzi)