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Agenda-setting intelligence, analysis and advice for the global fashion community.

Saks Is Ceding Ground to Luxury Rivals After Buying Neiman Marcus

The $2.7 billion acquisition was intended to strengthen the department stores’ positions as luxury giants, but now both are struggling against competitors like Nordstrom and Bloomingdale’s.
The exterior of Saks Fifth Avenue's store in New York.
Sales at Saks Fifth Avenue fell 16 percent during the quarter that ended in June from a year earlier. (Shutterstock)

The $2.7 billion acquisition of

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Further Reading

Saks Wanted to Clear the Air With Brands. The Plan Backfired.

Relations between Saks Global and many of the 2,000-odd brands stocked in its department stores appear to be worse than ever after the owner of Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman sent a letter this week setting new payment terms.

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