Gimbel-Saks Merger

The consolidation of the well known New York retail establishments of Gimbel Brothers, Inc., and Saks & Co., recently announced, will involve no change in management of either concern. The deal, however, involved $8,100,000.

The new consolidation will make Gimbel Brothers the largest individual factor in the department store business of this country. In 1922 Gimbel Brothers reported gross sales of $72,664,000, while Saks & Co. reported gross sales of over $15,000,000.