I know things have been hush hush lately in regards to the Saks merger, but a few corporate individuals have confirmed that the merger is in the process of happening. Curious to see what happens next.
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This story doesn't mesh..
There are too many cons in this merger for it to occur .Saw coverage in another page that just verified the train wreck Neiman is .we can't even guarantee shipping of product . For expensive merchandise .. Saks is a mess too .dividing into 4 companoes just to have moneynto stay afloat
The WWD article looks like we lost the plot. David Moin prints whatever he’s given - never questions the data and asks why things are happening. We can’t forecast to save our lives. GVR has no grasp of the business.
Macy's has a few nice stores. Then there's the rest . The bankruptcy where we didn't pay our vendors made plenty not return.others look elsewhere to sell . Chanel being just one. Raemdonck claiming we didn't need to go bankrupt but did. Looked awful
Allegedly talks began and books were shown in June.it's October.
Seems dead to me. Both Neiman's and Saks don't pay their bills.
That's why numerous lines went to Bloomingdales and Macy's A few even to Dillards.
GVR would exit if this happens. New structures have been drawn up.
Talks continue. The WWD article was gushing about about our performance and almost lost was the negative comps - just single digits! That was the typical PR spin but even more pressure to make us look positive.