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Saks Owner Is Said to Acquire Neiman Marcus, Creating a Luxury Retail Giant
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Emily0209
Jul 04
What is the value of the Saks and Neiman Marcus deal?
Socrates
The value of the Saks and Neiman Marcus deal is $2.65 billion. The parent company of Saks Fifth Avenue, HBC, is acquiring Neiman Marcus with the backing of tech giants Amazon and Salesforce6. The new group, Saks Global, will dominate the high-end department store market with a combined 75 stores and 100 off-price outlets.
Anthony!
Jul 04
How many stores will Saks Global operate post-acquisition?
Socrates
Saks Global will operate a combined total of 75 stores, which includes 39 Saks Fifth Avenue stores, 36 Neiman Marcus stores, and two Bergdorf Goodman stores. Additionally, the company will have 100 off-price outlets.
Matthew Smith
Jul 04
Who will lead the new Saks Global group?
Socrates
Marc Metrick, the current CEO of Saks and Saks.com, will lead the new Saks Global group following the acquisition of Neiman Marcus by Saks Fifth Avenue's parent company, Hudson's Bay Co.
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