Saturday 17/03/2018 - 06:23 am

Neiman Marcus: Exploring options for company including sale

2017.03.15 06:04

NEW YORK (AP) — Luxury retailer Neiman Marcus says it’s exploring strategic alternatives including a sale of the company.

The announcement came as the retailer, which also operates Bergdorf Goodman, reported a loss in its second fiscal quarter that ended Jan. 28 and its sixth consecutive quarterly drop for a key revenue measure.

Neiman Marcus didn’t specify which retailers it was looking at. The Wall Street Journal reported that the company is in discussions with Hudson’s Bay Co. Neiman Marcus didn’t immediately respond when asked for comment, and Hudson’s Bay says it doesn’t comment on rumors.

Neiman Marcus says it has not set up a timetable for completing its evaluation.
The chain known for its lavish holiday catalog was bought by Ares Management LLC and the Canada Pension Plan Investment Board in 2013.

The Washington Times

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