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Saks emerges from bankruptcy with a new name and a leaner store footprint

Luxury retailer Saks Global on Friday announced it will operate with a new name after it exited bankruptcy after cutting its store count and reducing its debt obligations.The company – which is the parent of notable retail brands including Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman – will operate under the new name Exemplar Luxury Group (ELG) and will focus on luxury retail."Moving forward as Exemplar Luxury Group reflects the shared ideals that anchor each of our banners and our commitment to setting the standard of excellence for luxury retail across all three," said CEO Geoffroy...