Online Arm of Saks Preps IPO

The eCommerce spinoff of Saks Fifth Avenue — Saks — is reportedly pondering a public offering in the first six months of next year that could give it an estimated valuation of $6 billion, the Wall Street Journal (WSJ) reported, citing unnamed sources. Saks is reportedly in talks with several bankers to serve as possible underwriters for an initial public offering (IPO), the sources said, adding that although sit-downs with bankers are typically the first steps in going public, there is no guarantee yet that anything will move forward.