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 WWD.com late Friday last week. Saks’ shares closed Friday at $3.34, down 26 cents, or 7.2 percent.
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