Gary Malerba/AP

Luxury retailer Neiman Marcus today said that it is exploring "strategic alternatives" that could include a sale of the entire business. This comes two months after the Dallas-based company pulled an IPO registration that had been on file since August 2015, and amid a much broader slump among physical retailers (particularly those concentrated within shopping malls).

Second time's the charm? This isn't the only recent sale attempt for Neiman Marcus, which is struggling under a $4.9 billion debt load that relates to it having been repeatedly bought and sold among private equity firms (its current owners are Los Angeles-based Ares Management and a large Canadian public pension fund). For example, Hudson's Bay Co. ― owner of Lord & Taylor and Saks Fifth Avenue ― has held off-and-on talks about buying Neiman Marcus, and reportedly is in the mix again. Hudson's Bay also has been linked to takeover talk involving Macy's.

Bottom line, from Fortune retail reporter Phil Wahba back in January: "Neiman has admitted luxury shoppers are harder to win over now than before, more impatient to buy items they see on the runway and less willing to wait eight months for those items to be in stores. And the Internet has made comparison shopping that much easier, eroding shopper fealty."

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Hong Kong media tycoon Jimmy Lai arrested under national security law

Media tycoon Jimmy Lai at the Next Digital offices in Hong Kong in June. Photo: Anthony Wallace/AFP via Getty Images

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Why it matters: He was arrested under the new national security law that gives Beijing more powers over the former British colony. Lai is the most prominent person arrested under the law, which prompted the U.S. to sanction Chinese officials, including Hong Kong leader Carrie Lam, over Beijing's efforts to strip the territory of its autonomy.

New York reports new low positive coronavirus test rate

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New York Gov. Andrew Cuomo (D) announced Sunday 515 people, or 0.78% of those tested, returned a positive reading for COVID-19 the previous day.

Why it matters: It's the lowest single-day positive rate since the start of the pandemic. It's another sign that the state that was once a global coronavirus epicenter is curbing the spread of the virus. "Our daily numbers remain low and steady, despite increasing infection rates across the country, and even in our region," Cuomo said in a statement. "But we must not become complacent: Everyone should continue to wear their masks and socially distance."

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