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Saks Fifth Avenue's Parent Company To Buy Neiman Marcus For $2.65B, With Amazon's Help: Report
Wednesday, July 3, 2024 - 9:34pm | 529The parent company of Saks Fifth Avenue has reportedly agreed to acquire its rival Neiman Marcus for $2.65 billion. The deal, which is expected to be announced imminently, will see the involvement of Amazon.com Inc. (NASDAQ:AMZN). What Happened: The acquisition, which has been approved by the...
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Neiman Marcus Turns Down Saks Fifth Avenue's $3 Billion Takeover Bid
Sunday, December 3, 2023 - 10:36am | 454The most recent acquisition attempt by Saks Fifth Avenue on its competitor Neiman Marcus has been rejected, as the two high-end retailers struggle to agree on merger terms. According to the Wall Street Journal, Neiman rejected Saks' latest offer, which valued Neiman close to $3 billion. Those...
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Bankruptcy Update: Ruby Tuesday Files Chapter 11 While Progress Slows For JCPenney
Sunday, October 11, 2020 - 10:06pm | 1333The list of bankruptcies this year continues to grow. Casual food chain Ruby Tuesday filed for Chapter 11 protection on Wednesday. The Tennessee-based company became just the latest in a string of major brands to file for bankruptcy in 2020 — a year where virtually every...
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Century 21, J.C. Penney And J. Crew Are Just 3 Retailers On A Long List Of 2020 Bankruptcies
Sunday, September 13, 2020 - 12:00pm | 1170Century 21 Department Stores LLC grabbed headlines last week when it confirmed plans to close all 13 of its stores and liquidate assets as part of a chapter 11 process. In doing so, the New York-based company became just the latest in a string of major retailers to file for bankruptcy in 2020...
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Hedge Fund Founder Indicted Over Manipulating Neiman Marcus' Bankruptcy-Related Assets Sale
Friday, September 4, 2020 - 12:31am | 436The United States Department of Justice announced Thursday it had charged Daniel Kamensky, founder and manager of New York-based hedge fund Marble Ridge Capital in connection with putting pressure on a rival not to bid for assets connected to the Ares Management Corporation (NYSE: ARES)-owned...
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Fintech Focus For August 3, 2020
Monday, August 3, 2020 - 11:46am | 1830Daily Perspective: Stay hungry, stay foolish. - Steve Jobs Fintech Movers: The ECB says EU financial institutions have an over-optimistic view of their IT resilience and resistance to cyber threats. - Finextra US fintech funding on pace to excel. Tradeweb calls on Nasdaq tech. Cuban-backed...
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How You Should Be Thinking About The Health Of A Retail Business
Friday, May 15, 2020 - 1:22pm | 786At the outset, 2020 was shaping up to be a good year for retail, buoyed by low unemployment and a strong consumer base. However, the COVID-19 coronavirus became a global pandemic, forcing thousands of businesses to close and endangering the existence of high debt, low profitability retailers. As...
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Why LVMH, Kering Are Well-Positioned For Recovery, 'Revenge Buying' At Hermes
Monday, May 11, 2020 - 7:59am | 546Global sales of personal luxury goods are expected to fall 60% in the second-quarter of 2020 due to the coronavirus pandemic, according to a Bain & Co. report. Last week, the Ares Management Corp (NYSE: ARES) co-owned, high-end retailer Neiman Marcus became the first large department store...
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Neiman Marcus On Verge Of Bankruptcy, May File This Week: Report
Sunday, April 19, 2020 - 11:05pm | 520Ares Management Corp (NYSE: ARES)- and Canada Pension Plan Investment Board-owned retailer Neiman Marcus Group, could file for bankruptcy as early as this week, Reuters reported Sunday, citing people familiar with the matter. Neiman Marcus Could Be Retail Casualty Neiman Marcus, the...
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Should Ulta Beauty Split Its Stock?
Monday, April 10, 2017 - 12:31pm | 900In a note released on Monday, Loop Capital Markets said it believes Ulta Beauty Inc (NASDAQ: ULTA) is overdue for a stock split given its view that a stock split will increase the company's attractiveness to individual investors. Stock Split May Serve Ulta Beauty Well Analyst Anthony Chukuma roots...
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Analyst: Ulta's Q4 Report An Example Of 'Underpromise And Overdeliver'
Friday, March 10, 2017 - 3:44pm | 659After market close Thursday, Ulta Beauty Inc (NASDAQ: ULTA) reported its fourth-quarter results and issued Q1 and fiscal 2017 guidance. Although earnings beat consensus estimates by more than 5 percent and a $425 million share buyback was announced, guidance was seen as soft, with the top end of Q1...
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What's Up With All The Vacant CFO Positions?
Thursday, December 29, 2016 - 4:02pm | 377If you are a financial executive with experience at the C-level, the following companies may want your services: Kohl's Corporation (NYSE: KSS), Coach Inc (NYSE: COH), Nordstrom, Inc. (NYSE: JWN), Whole Foods Market, Inc. (NASDAQ: WFM) and privately-owned Neiman Marcus. According to Gadfly's Shelly...
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Shopify Expands Buy Button Test With Facebook
Thursday, June 11, 2015 - 12:56pm | 484Shopify Inc (NYSE: SHOP) is expanding a test for its merchants of a so-called "buy button" feature on Facebook Inc (NASDAQ: FB), even as it prepares to go whole hog with a similar plan through Pinterest. Shopify closed Wednesday at $28.10, off $0.24, but up more than 9 percent since a May 20...
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The Year-Long Chain Of Retailer Data Breaches
Friday, October 17, 2014 - 3:15pm | 1063The Wall Street Journal reported on December 18, 2013 that Target Corporation (NYSE: TGT) had been the victim of an "extensive theft" of customers' credit and debit card data. Understandably, consumers panicked and investors worried. The timing couldn't have been worse, as...
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Have You Been Hacked?
Wednesday, August 27, 2014 - 4:01pm | 481Nobody likes to deliver bad news, but this type of news could lead to you saving money. According to the Secret Service, it’s estimated that up to 1,000 businesses have been impacted by Backoff malware, potentially impacting millions of consumers. If you’re not familiar with Backoff...