In The Bidder's Box For Saks
WHO WILL BUY SAKS FIFTH AVENUE? Retail experts say Saks's own chief executive, Philip Miller, is a possible bidder. They say Miller, a seasoned exec who once launched an unsuccessful leveraged buyout offer while at Marshall Field, is a prime candidate to gather investors and make a bid. "I think that's a good possibility," says Kurt Barnard, president of Barnard's Retail Trend Report. Miller declined to comment. Other possible buyers for the store--whose current owners want out--include Neiman Marcus and Midwestern department store chain Proffitt's, say retail industry sources. Both retailers declined comment.
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