If that were to occur The Federal trade commission would likely focus on the N.Y.C market as it would reduce completion there..
Plus our sales have barely rebounded
As the worst of the slump seems over..now if we could get merchandise that customers actually want
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It's still on track. Despite the poor performance.
Think Geoffrey's bf on here promoting the merger.. Saks can actually go bankrupt like sears Kmart in this big mess..it would serve Richard Baker right
It's done. Announcement coming soon. Haggling over minute details now - GVR is very particular on how he wants the announcement. But he doesn't have final say.
Neiman's does have better financials .only because it ripped off it own creditors 2.667 billion .both stores are a nightmare for vendors .who will definitely not want part of new entity..both stores are irrelevant..Bloomingdales and Nordstrom pay their bills and that's why we lost numerous exclusives. If they couldn't close a deal for well over a year.its doubtful now
Sorry guys , but it’s already happened
Our CEO seems giddy right now and the most focused he's ever been. It's happening. He's the classic grab as much as you can kind of person.
Saks seems to be doing everything it can to make sure the books look great for 2nd Qtr. No raises for salaried workers. No 401k match til fall. Pay schedule change and they are bout to announce 15 GM’s and 15 VM lay offs among office managers & AGMMs
Don't think it will happen..and I agree with the poster of this .who happened to take it from Facebook page Neiman Marcus su-ks...also they mentioned how consolidation has lead to too little competition in certain sectors..A Bergdorf carve out may make the sale doomed
The merger will happen. It will mean survival for both companies for a short period of time at least. And the board is ready to offload ASAP
Competition may be an area of concern