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What Happens To Neiman Marcus After The Saks Merger? [Forbes]
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US:NASDAQ Investor Relations: phx.corporate-ir.net/phoenix.zhtml%3fc%3d97664%26p%3dirol-irhome
AP2009 It's official. The Saks Fifth Avenue-Neiman Marcus Group (NMG) merger is done. Now luxury retailers Neiman Marcus, Bergdorf Goodman, Saks Fifth Avenue, plus off-price Saks Off 5th and Neiman Marcus Last Call outlets, will jointly operate under Saks Global. Marc Metrick takes the helm as CEO of Saks Global Operating Group , reporting to Richard Baker, HBC's executive chairman. Baker ends the year on a high after upsetting many vendors by making them wait to get paid, disappointing New Yorkers by canceling Saks' iconic holiday light show and turning to the junk bond market to push the deal valued at $2.7 billion over the finish line. PROMOTED The merger brings together three iconic retailers that largely compete at the top of the exclusive luxury retail pyramid, including 36 Neiman Marcus and 42 Saks Fifth Avenue flagship stores. Bergdorf Goodman, with its women's and men's stores up Fifth Avenue from Saks, may be a notch or two higher, but they all draw from the sam
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