 Money news at 10 and 40 past the hour on WTOP. There is significant consolidation underway in the luxury retail market as the parent company of Saks Fifth Avenue comes to terms on a deal to acquire Neiman Marcus. The $2.6 billion deal has been in negotiations for several years after Neiman Marcus filed for bankruptcy protection during the pandemic. Saks was bought by HBC in 2013, the year after HBC was acquired by acquired Lord & Taylor.