USA: Saks Buys Club Libby Lu For $12m
Leading department store operator Saks Inc on Tuesday announced it has paid $12 million to acquire pre-teen girls clothing and footwear chain Club Libby Lu LLC. The company said the deal gives it 11 mall-based stores, mostly in the Midwest, and added it plans to open three Club Libby Lu stores and add Club Libby Lu shops to six of its Saks stores in 2003.
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