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Saks Fifth AvenueWWD
•77% Informative
Saks ' parent HBC intends to close its $2.65 billion deal to buy Neiman Marcus Group by the end of its fiscal year .
Company executives on Wednesday also said new financing and equity infusions through the deal, future property sales and fall 2024 selling expected to kick in next month will improve liquidity, helping to catch up on outstanding payments to vendors.
Vendors have been baffled by how HBC has been able to pursue its takeover.
Hudson's Bay in Canada did not rebound after pandemic the way U.S. retailers did, CFO says.
Amazon is an investor in the deal, as is private equity giant Apollo as well as Salesforce. Bewley: "We are very empathetic to the situation and recognize that we have not made it easy for anyone".
VR Score
74
Informative language
70
Neutral language
43
Article tone
semi-formal
Language
English
Language complexity
50
Offensive language
not offensive
Hate speech
not hateful
Attention-grabbing headline
not detected
Known propaganda techniques
not detected
Time-value
short-lived
External references
12
Source diversity
1
Affiliate links
no affiliate links