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Neiman Marcus Goes International with Luxury Website Purchase

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Dallas—Neiman Marcus Group hasn’t had an international presence until today. The luxury retailer revealed it is purchasing a global luxury online retailer and taking over a flagship luxury store in Munich, Germany. Neiman signed an agreement to acquire mytheresa.com from Christoph and Susanne Botschen and Action Capital Partners. It will …

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Tod’s Surprises With Worse-Than-Expected Profit, Sales Fall

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Milan—Tod’s disappointed on Thursday with a larger-than-expected fall in first-half core profit on lower revenue, as negative currency effects added to a weak performance in China and the United States. First-half earnings before interest, tax, depreciation and amortization (EBITDA) were down 20% to 103 million euros (about $138 million), below …