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For American department stores, this holiday season is shaping up to be a battle royale for shoppers’ attention and wallets.
Saks Global, which also owns Neiman Marcus and Bergdorf Goodman, is still the biggest luxury multi-brand retailer in the market. But it spent the year undergoing multiple rounds of restructuring. Sales have been in decline, and relationships with brands were strained by late payments. The company even cancelled its famous holiday light show at the Saks flagship in…
