Herbert Marcus Sr., his sister, Carrie Marcus Neiman, and her husband A.L. Neiman opened the retailer's first store in Dallas, Texas, in 1907.

Neiman Marcus shuttered its gigantic three-floor office in Dallas as a cost-cutting measure by owner Saks Global. The Dallas-based luxury department store chain has been a mainstay in the area and even received $5.

Back-to-back announcements centered on an iconic Dallas retail brand is sending shockwaves through the region. Neiman Marcus will shutter its flagship downtown Dallas store effective March 31, just months after Saks Global acquired the luxury retailer for $2.65 billion.