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Neiman Marcus

Business
Saks Fifth Avenue Acquires Neiman Marcus For $2.65B With Amazon As Partner Saks Fifth Avenue Acquires Neiman Marcus For $2.65B With Amazon As Partner
Saks Fifth Avenue Acquires Neiman Marcus For $2.65B With Amazon As Partner Luxury department store Saks Fifth Avenue has acquired rival Neiman Marcus, with Amazon jumping on board with a stake in the newly combined company. HBC, the parent company of Saks, entered into an agreement to acquire Neiman Marcus Group, the parent company of Neiman Marcus and Bergdorf Goodman, for a total enterprise value of $2.65 billion.  As part of the deal, Amazon will provide logistics in what HBC says will be a "technology-powered luxury retail company." “We're thrilled to take this step in bringing together these iconic luxury names, Saks Fifth Avenue, Neiman Marcus, and Ber…

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by Joe Lombardi
Business
Recall Issued For Baby Stroller Brand Over 'Fingertip Amputation' Hazard Recall Issued For Baby Stroller Brand Over 'Fingertip Amputation' Hazard
Recall Issued For Baby Stroller Brand Over 'Fingertip Amputation' Hazard UPPAbaby is recalling one of its jogging strollers over concerns they may pose a significant safety hazard, the Consumer Product Safety Commission (CPSC) announced. The recall involves all UPPAbaby all-terrain RIDGE jogging strollers, which have an extendable canopy with a mesh window and zipper pocket, disc hand brake system, and an adjustable handlebar with a wrist strap. The stroller’s rear disc brakes have openings that can cause amputation or laceration if a child's fingertip gets caught in the openings, CPSC said. Around 14,400 of the strollers were sold at various retailers, includi…

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by Michael Mashburn
News
Neiman Marcus Sues Boston Mall Owners For $50 Million Over Contract Breach Neiman Marcus Sues Boston Mall Owners For $50 Million Over Contract Breach
Neiman Marcus Sues Boston Mall Owners For $50 Million Over Contract Breach Neiman Marcus said it lost millions of dollars after it agreed to shrink the size of its store to allow for the construction of a skyscraper in Boston's Back Bay neighborhood. Those plans fell through, and now the retailer is suing the developer for $50 million to recoup the money Neiman Marcus says it lost because of the project.  Neiman Marcus filed a lawsuit on Tuesday, July 19, in Suffolk Superior Court against Simon Property Group, the owners of Copley Place mall.  Simon Property had planned to build a 52-story residential high-rise above the retail store at 5 Copley Pl…

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by Josh Lanier