10/18, 3:02 AM (Source: TeleTrader)
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Saks e-commerce business considers IPO - report

Saks Fifth Avenue's e-commerce unit is preparing for an initial public offering (IPO), the Wall Street Journal reported. People familiar with the matter said the luxury department store chain is talking to potential underwriters.

The IPO could be launched in the first half of next year, with the business valued at around $6 billion, according to the report. However, the process is still in the early stages and might not be completed.

Breaking the News / DJ