The parent of Saks Fifth Avenue sealed a $2.65 billion deal to buy rival Neiman Marcus with a little help from Amazon , the Wall Street Journal reported on Wednesday, citing people familiar with the matter.
The parent of Saks Fifth Avenue sealed a $2.65 billion deal to buy rival Neiman Marcus, according to people familiar with the matter, creating a powerhouse in luxury retailing that seeks to hang onto wealthy shoppers—all with a little help from Amazon.com AMZN -1.21%decrease; red down pointing triangle.