Tod’s CEO doubles Saks stake

Tod’s SpA chairman and chief executive officer Diego Della Valle has doubled his stake in Saks Fifth Avenue and now owns 5.9 percent of the US retailer’s common shares.

According to a Securities and Exchange Commission filing released late Friday, the Italian luxury goods mogul has acquired 8.48 million shares of Saks since Feb. 20 for total consideration of $30.3 million, or an average of $3.57 a share. Half of those shares have been acquired since April 28 at prices ranging from $3.49 to $3.83.

The shareholding was first reported on late Friday last week. Saks’ shares closed Friday at $3.34, down 26 cents, or 7.2 percent.

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