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Saks Parent HBC to Buy Neiman Marcus Group for $2.65 Billion, Including Investment from Amazon

Retail TouchPoints

Marking the culmination of nearly seven years of on-again, off-again negotiations, HBC , parent company of Saks Fifth Avenue and Bergdorf Goodman , will acquire another storied luxury department store brand, Neiman Marcus , for $2.65 Current Saks.com CEO Marc Metrick will become Saks Global’s new CEO.

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Identifying the ‘Faces’ Behind Faceless Online Transactions

Retail TouchPoints

According to McKinsey , ecommerce sales in apparel, department stores and beauty products have increased by nearly 10%, on average, since the onset of the pandemic. Because of this ease, merchants have begun relying on POS financing to drive sales growth. In 2019 , the total market share of online U.S.

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David Jones replaces American Express with Latitude in 10-year credit deal

Inside Retail

Department store David Jones is replacing its long-term own-brand credit-card partner American Express with Lattitude in a 10-year contract. Latitude CEO and MD Ahmed Fahour highlighted the significant opportunity David Jones offers the finance house, with annual sales above $2 billion and 59.5 million store visits in 2021.

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Harvey Nichols owner lends further £25m to chain

Retail Gazette

Accounts filed at Companies House last week show that the businessman lent the department store chain £25.5m, and had committed to pay a further £7m following its year-end last April. Harvey Nichols owner Sir Dickson Poon has committed to lend an additional £32.5m

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How Natori Used AI to Sharpen Retargeting and Achieve a 943% ROAS

Retail TouchPoints

She left a prestigious Wall Street position to start the company; similarly, Ken left a career in finance to join the company in 2007. We also get end-to-end accountability in the supply chain.” It all began with Josie creating lingerie on her living room floor.)

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Selfridges co-owner Central eyes Signa’s stake

Retail Gazette

Selfridges’ Thai co-owner Central Group is seeking to take greater control of the department store and could snap up fellow shareholder Signa’s stake following its collapse. Selfridges’ owners separated its retail operations and property holdings into two separate companies — an “opco” and a “propco”.

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Selfridges seeks cash from co-owner after Signa files for insolvency

Retail Gazette

Signa, the retail and property empire created by Austrian billionaire René Benko filed for insolvency for two of its key divisions, including Signa Prime Selection, which co-owns properties such as the Selfridges department store in London and Berlin store KaDeWe.