Grass isn’t always greener on the other side.
If Richard Baker does get the option to buy NMG you’ll see massive layoffs in back office and store employees.
He has no interest in NM, only to ki-l the competition.
Mr Baker has only interest in real estate and keeping Saks running.
He’s mismanaged Hudson Bay and pulled the plug on Lord & Taylor after years of playing merchant.
Insider info: More layoffs coming as they need to reduce the run rate on operating expenses which will make the books look palatable for Saks acquisition.
Simple math. Either show more sales or cut operating expenses (following the same sears model). Maybe they will shut down stores and/or consolidate BG stores.
HR says there could be one more small one.
If the deal doesn't go through expect more. Last months was not that big