Business

Saks shares spike on heels of sale scoop

For Saks investors, it’s like the financial crisis never happened.

Shares in the owner of Saks Fifth Avenue spiked 13 percent yesterday, after The Post first reported late Tuesday that the luxury retailer had hired Goldman Sachs to explore options, including a possible sale of the company.

The stock gained $1.83 yesterday to settle at $15.50 after hitting an intraday high of $16.17 — the highest since March 2008, nearly six months before the collapse of Lehman Brothers sent a panic through the luxury markets.

Saks in late 2008 staged discounts of 70 percent and more on brand-name designer clothing and accessories, even as its stock took a punishing, multi-year markdown.

Having slashed debt and closed laggard stores, Saks is expected to attract interest from big private-equity firms such as KKR and Leonard Green & Partners.

It’s also likely to be shopped to sovereign wealth funds in the Middle East and Asia, according to sources.

Yesterday, Bloomberg News reported that KKR has weighed taking a stake in Saks and combining the company with archrival Neiman Marcus — a deal that would create an unrivaled behemoth in US luxury retailing.

A source close to the situation confirmed that KKR had considered such a move. However, the source added the probability of the buyout firm engineering such a deal was low.

“It’s just an idea they’re kicking around,” the source said, estimating the chances of such a transaction at 10 percent. “It would be extremely complicated to get done.”

A KKR spokeswoman declined to comment.

jcovert@nypost.com