Saks owner to buy luxury retailer Neiman Marcus in $2.65-billion deal – ET Retail
Saks Fifth Avenue parent HBC will acquire department-store chain Neiman Marcus in a $2.65-billion deal, the companies said on Thursday, giving them stronger negotiating power with vendors and greater ability to control costs. The deal comes with luxury retailers battling slowing demand as high interest rates and inflation force customers to crimp budgets, following a…