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Neiman Marcus owner reaches last-minute deal to keep landmark Dallas store open

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Neiman Marcus owner reaches last-minute deal to keep landmark Dallas store open


The Neiman Marcus store in Dallas on Friday got a last-minute reprieve from having to close its doors for good in a deal aimed to buy the city more time to “reimagine” a new future for the retailer’s landmark building.

City officials and the retailer’s owner, Saks Global, announced on Friday that the department store will remain open until the end of the year — instead of closing on Monday.

The agreement caps off more than a month of testy public statements by both sides over a bizarre lease dispute concerning a sliver of the building — which houses the original store– under the down escalator of the nine-story building.

The century-old Neiman Marcus store is considered a retail icon in Dallas. LARRY W SMITH/EPA-EFE/Shutterstock

Barbs were exchanged for weeks and even press conferences were held outside the store by the Dallas Consortium, a group tasked with keeping the store open, which accused Saks Global of lying about its stated reason for closing the beloved department store and of unfairly taking a portrait of the store’s founder, Stanley Marcus, to NYC.

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Terms of the deal, including any tax incentives the city may have offered, were not announced. But the idea is to “reimagine” the store and put the space to other uses.

The talks come as city officials are looking to revive the downtown area, of which the historic retail icon is considered an anchor.

Store employees learned that their jobs were saved – at least temporarily – this morning at a store-wide meeting, The Post has learned.

Richard Baker, chairman of Saks Global, attended a crucial meeting in Dallas on March 24. Getty Images for HBC Foundation

The about-face comes after a group of Saks Global executives, including executive chairman, Richard Baker, met with Dallas officials in the city on March 24 to discuss a contentious lease that was the stated reason for the store closing.

The agreement buys Neiman Marcus and its popular Zodiac Room restaurant more time, but it’s unclear what will happen at the end of the year when the store is expected to close, according to a source with knowledge of the deal.

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Between now and then, city officials and Saks Global will discuss potential concepts for the space, including a “luxury retail experience, a curated art exhibition, and a fashion and event center,” according to the statement. The proposals also include “an incubator for fashion design and manufacturing in Downtown Dallas.”

Marc Metrick is the chief executive of Saks Global, which acquired Neiman Marcus in a $2.6 billion deal in December. Getty Images

“As we explore opportunities for the Downtown store, along with a planned renovation at the [nearby] NorthPark store, we will evaluate the opportunity to utilize both locations to serve different customer needs in the Dallas market,”  Marc Metrick, chief executive of Saks Global said in a statement. 

The building is owned by Saks Global and several other landlords who own smaller portions of the ground lease. One of those landlords, Slaughter Partners, owns a 2,500-square of land under the escalator.

That landlord had terminated Saks Global’s lease, sparking the store closure announcement in February.

Dallas officials held press conferences outside the store in an effort to pressure Saks Global to keep the store open. LARRY W SMITH/EPA-EFE/Shutterstock
The Dallas store is considered a linchpin to the city’s revitalization plan. LARRY W SMITH/EPA-EFE/Shutterstock

But Slaughter reportedly donated its portion of the building last month to the city of Dallas to keep the store open.

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At the time Saks Global, which acquired Neiman Marcus in a $2.65 billion deal in December contended that it had “not received any documentation regarding an agreement between Slaughter Partners and the City of Dallas, and how this new agreement would affect the property, its other owners  and the store’s ability to operate.”

“We are excited that Saks Global has decided to keep Neiman Marcus open downtown, as we explore the opportunity to unlock the potential to transform downtown into an international beacon and economic engine for fashion – just as the Neiman Marcus founders intended when they opened the store more than 100 years ago,” Dallas City Manager Kimberly Bizor Tolbert said in a statement. “We look forward to exploring what‘s on the horizon and are committed to continuing our conversations with the Saks Global team.” 



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Dallas, TX

Anti-ICE protest outside Dallas City Hall follows deadly shooting in Minneapolis

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Anti-ICE protest outside Dallas City Hall follows deadly shooting in Minneapolis




Anti-ICE protest outside Dallas City Hall follows deadly shooting in Minneapolis – CBS Texas

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This protest was organized by the National Alliance Against Racist and Political Repression.

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Dallas, TX

Dallas Weather: Changes on the way for North Texas

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Dallas Weather: Changes on the way for North Texas


The warm and muggy weather will give way to much cooler temperatures in the Dallas-Fort Worth area over the next few days.

Thursday Forecast

According to the FOX 4 Weather team, rain chances return on Thursday as a disturbance moves through the Plains. 

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The best chance for showers and storms will be north of Interstate 20. There’s a marginal risk for severe storms for the areas northwest of DFW and along the Red River.

A southwest wind will also keep things very warm throughout the day. Expect highs to climb into the upper 70s to 80s. Wind gusts may reach as high as 25 to 30 mph.

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Weekend Forecast

The next cold front swings through on Friday afternoon. Ahead of it, there are rain chances, especially southeast of DFW.

Behind this front, noticeably colder air moves in for the weekend. Expect lows in the 30s and afternoon highs in the 50s. 

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7-Day Forecast

A slow warm-up is expected heading into early next week.

The Source: The information in this story comes from FOX 4 Weather Meteorologist Ali Turiano’s weather report.

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Live updates: Washington Capitals vs Dallas Stars at Capital One Arena

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Live updates: Washington Capitals vs Dallas Stars at Capital One Arena


Justin Sourdif gave Capitals fans one of the most fun individual efforts of the season, recording five points and scoring his first career hat trick against the Anaheim Ducks on Monday. Sourdif had fantastic chemistry with Connor McMichael and Ryan Leonard in their first game together.

Now the question becomes – Can the Young Guns 2.0 keep it up against a usually-stingy, defensively stout Dallas Stars team?

With Tom Wilson and Aliaksei Protas out again due to injury, Brett Leason will make his season debut with the Capitals. Meanwhile, Dylan McIlrath will remain in the lineup.

The Stars come into on a six-game losing streak. Casey DeSmith will start in goal over Jake Oettinger while the Capitals will counter with Logan Thompson.

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Puck drop for today’s game is scheduled for a little after 7:00 pm. The game’s national and on TNT.

I’m dedicating my work tonight to Callie. I love you, my sweet girl. 💔

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Washington Capitals

Beauvillier

Strome

Ovechkin

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McMichael

Sourdif

Leonard

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Dallas Stars

Duchene

Johnston

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Rantanen

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Tunnel shenanigans


1st Period

Puck is dropped. McMichael-Sourdif-Leonard and Fehervary-Carlson get the start.

Ilya Lyubushkin to the box for holding Jakob Chychrun at 2:44.

Stars’ Radek Faska goes 1 on 3 shorthanded and scores after Logan Thompson loses sight of a rebound. WHAT WAS THAT.

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1-0 Dallas Stars

SHG: Radek Faksa (2). Assists: E. Lindell (14). Time: 3:06

Back to the power play and… Justin Sourdif gets tossed from the faceoff dot, starts screaming at the official, Connor McMichael comes in, says something, and he gets an unsportsmanlike doncut penalty, killing the rest of the team’s power play. You can tell Carbery is fuming.

The two teams are now playing four-on-four.

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Puck bounces over Dylan Strome’s stick on a wide-open net down low after a great setup by John Carlson.

Stars are outshooting the Capitals 5-0, 5:30 into the first period.

Apparently Beck Malenstyn has returned to the Capitals because one of the commentators said he just made a play. Lmao. No one on the Capitals even wears no. 47.

Sam Steel ailing and holding his left arm after a big hit by Ethen Frank.

At intermission: The Stars lead 1-0. The Caps didn’t really do anything in the first period. They were there. They existed. But that was about it. Shots on goal are 10-8 Dallas.

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2nd Period

Puck is dropped.

Ilya Lyubushkin and Brandon Duhaime throwing punches at each other after the play at 1:12. Lyubushkin is going down the tunnel due to a cut on his nose.

John Carlson… just watching a pass through the paint to his man, no stick lift or anything, just chillin.

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2-0 Dallas Stars

Goal: Sam Steel (7). Assists: T. Harley (14), M. Duchene (6). Time: 2:37

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Ryan Leonard fakes a dump-in and almost scores with a crazy shot to the far side from center ice.

Brandon Duhaime and Ilya Lyubushkin drop the gloves right off a faceoff at 12:53. Duhaime punches Lyubushkin about 5 times hard in the back of the helmet. Hope his knuckles are doing okay. The Caps crowd is finally into it, though.

Logan Thompson stops Roope Hintz on a two-on-none breakaway after Nic Dowd fails to get the puck deep. Caps look awful.

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Mikko Rantanen slashes Justin Sourdif at 15:55. Caps going back to the power play.

At intermission: The Stars lead 2-0. Dallas leads in shots on goal 20 to 13.


3rd Period

Puck is dropped.

Anthony Beauvillier takes it hard to the net, and gets two opportunities but can’t whack the puck through.

Nic Dowd to the box for hooking at 4:57. The Caps look awful. Just listless. Can’t get anything going. A lot of standing around.

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4 shots by the Stars on the power play. Thompson keeping the Caps close.

McMichael ices the puck at the end of the kill.

Caps have one shot on goal through the first 7:03 of the third period.

Jason Robertson rips one hard off the post. Thompson is flopping all over the place to keep the puck out.

McMichael and Duchene trade opportunities down the wing off the rush.

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Beauvillier sends a horrible pass backwards to Matt Roy in the defensive zone, turnover to the Stars’ Steel, and Wyatt Johnston scores easily in front of the net. YIKES.

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3-0 Dallas Stars

Goal: Wyatt Johnston (24). Assists: S. Steel (9). Time: 2:37

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Caps pull Thompson with 2:26 remaining. Why not?

Alex Ovechkin scores his 915th career goal via a one-timer at the top of the left circle.

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3-1 Dallas Stars

Goal: Alex Ovechkin (18). Assists: J. Carlson (23), J. Chychrun (17). Time: 17:41

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Capitals pull Thompson again.

Timeout Washington with 1:20 remaining.


Comment below. Refresh for live updates during the game. The thread will be closed shortly after the game is completed.

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