Parent company of Saks Fifth Avenue to buy rival Neiman Marcus

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Saks Fifth Avenue News

Neiman Marcus,Luxury Brands,Saks OFF 5TH

NEW YORK (AP) — The parent company of Saks Fifth Avenue has signed a deal to buy upscale rival Neiman Marcus for $2.65 billion.

NEW YORK — The parent company of Saks Fifth Avenue has signed a deal to buy upscale rival Neiman Marcus for $2.65 billion.

“As a larger entity, negotiating power will be a little better with the brands, but even a combined chain would not match the heft and power of the global luxury conglomerates, which would still hold most of the cards,” Saunders said. “As such, there is a risk that the deal might end up creating an even bigger headache for Saks.”If the Optimus robot somehow catapults Tesla to Musk’s $30 trillion market cap target, bears like the Microsoft cofounder could be wiped out—but that is a big if.

Suze Orman says this 1 spending rule is the key to financial security. Are you following it — or ignoring it?Canadians are continuing to be laid off as part of a wave of job cuts that began in 2023 as companies assessed their operations after the height of the COVID-19 pandemic passed.

 

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