Tag:
HBC
New Haven, CT
Business
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…
Elizabeth, NJ
Real Estate
Shuttered Lord & Taylor Store Could Become Bustling Downtown For This North Jersey Town
The shuttered Lord & Taylor store in one North Jersey township is in the process of being transformed into a vibrant and bustling downtown area. The department store's owner, HBC, along with Streetworks Development, presented their plan for the 730,000-square-foot space and municipal lots known as "One Westfield Place" at the Westfield council meeting Tuesday, Sept. 20. Mayor Shelley Brindle said the project could be historic, and is the culmination of more than three years of collaboration and community input. Brindle noted an increased urgency to revitalize the downtown afte…
