Saks Global CEO Marc Metrick on the days ahead

"We to have has get through THE regulatory process but Otherwise It is business as usual," Mark Metric, chief executive officer of Saks, said WWD on Thursday.

Discuss What lies in front In THE immediate future, Metric said, "We will to focus on What We can control And OUR strategy." If THE government green lights THE agreement, Metric will become CEO of Saks Global, THE combined Saks-Neiman Mark entity.

He stress that underlying THE agreement East A move has "growth" And not contraction THE business, However mergers often lead has consolidations. He Also said THE agreement East designed has "motivate" sellers has TO DO more business with Saks Global, And motivate clients has shop more has both Saks And Neiman's.

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Request about THE consequences of appellation THE combined entity “Saks Global," Metric said he reflects THE complex nature of THE CBH wallet including all It is real domain, intellectual property, data, stores And other assets, And that he underlines THE combined entity can't be characterized as A traditional department store operation. When request if THE name suggests opening stores overseas, Metric replied that It is Also Soon has discuss THE following phase. CBH works stores only In North America.

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While THE agreement, which was disclosed Wednesday, was not unexpected, he did reverberate through THE industry, breeding huge questions And concerns. Metric said he reacted by Sending in progress A letter has sellers And employees, A copy of which was reached by WWD.

In THE letter, he wrote, "When This transaction closes, which will arrive After customary regulatory goodbye, We will establish Saks Global, A technology focused business that brought together renowned retailers And real domain assets. »

He Also wrote that Saks Global "will build on THE strides do through THE Saks Fifth Street ecosystem has provide better experiences For OUR clients. HAS THE even time, We will be able has provide new opportunities For OUR brand the partners by portion them reach their target clients through canals. In short, We to want your business has to grow next to ours as We take advantage of THE strong growth expected through THE global luxury industry In THE years has come. I am look Before has socket on THE new role of Saks Global CEO, monitoring all of Saks Global retail And consumer businesses, including leading THE strategy has advance THE luxury purchases experience."

Most important, Metric wrote that "absolutely No funds that Otherwise support operations Or supplier debts were used For THE funding Or partner costs of This transaction. He East OUR And SFA priority has fill OUR obligations has OUR the partners. In THE future weeks, We plan has provide A update on THE financial position For Saks And AFA Since NOW through transaction closing." In recent month, Metric has has been addressing late Invoice Payments has certain sellers.

"Following THE close of THE transaction, We to wait for Saks Global has to have A well capitalized balance leaf, with A new debt And equity structure, which will give We even further financial flexibility And provide bigger opportunities For THE manners In which We work together," Metric wrote.