Kohlberg Kravis Roberts & Co. (NYSE:KKR) is seeking to make an investment in Saks Incorporated (NYSE:SKS) and may also push Saks to pursue a combination Neiman Marcus Inc., people with knowledge of the matter said. The deliberations may not lead to a transaction, said one of the people, who asked not to be named as the process is private. Both Saks and Neiman recently hired advisers to explore strategic options including sales, people with knowledge of the matter said this month. Saks hired Goldman Sachs Group Inc. for advice on its options, two people with knowledge of the matter said. Saks's shares rose 13% to $15.50.

Saks Incorporated (NYSE:SKS) hired The Goldman Sachs Group, Inc. (NYSE:GS) to explore strategic alternatives, including a sale of Saks, said two people with knowledge of the matter.

Saks Incorporated reported unaudited consolidated earnings results for the first quarter ended May 4, 2013. For the quarter, net sales were $793,195,000 against $753,607,000 a year ago. Operating income was $55,433,000 against $64,896,000 a year ago. Income before income taxes was $34,700,000 against $56,312,000 a year ago. Net income was $19,995,000 or $0.13 per diluted share against $32,145,000 or $0.18 per diluted share a year ago. Net capital spending for the first quarter ended May 4, 2013 totaled approximately $53.3 million. The company provided earnings guidance for the full year of 2013. Comparable store sales growth expected in the 4% to 6% range for the balance of the year, with modestly higher growth in the second half of the fiscal year than in the second quarter. The company expects an effective tax rate of approximately 41.0% for the year. The company expects net capital expenditures of approximately $145 million to $155 million for the full year.