Neiman Marcus Reports Decline in Holiday Sales Amidst Potential Saks Acquisition

Neiman Marcus Group reported a slight dip in holiday sales, suggesting a slowdown in US luxury sales after the post-pandemic surge. This downturn follows an 8% drop in both in-store and online sales for the quarter ending October 28. Despite this, CEO Geoffroy van Raemdonck expressed satisfaction with the holiday shopping season’s performance, indicating increased spending by premium customers. Read more at BNN Breaking