Neiman Marcus No Longer Up for Sale

Neiman Marcus is no longer up for sale, the company announced.

“We previously announced that the company had begun a process to explore and evaluate potential strategic alternatives,” the department store said in a 10-Q filed June 13 with the Securities and Exchange Commission.  “At this time, any exploration of, and conversations regarding, a partial or full sale of the company have terminated.”

Its primary suitor was Saks Fifth Avenue owner Hudson Bay.

The company posted a $24.9 million loss for the third quarter of 2017, compared to a $3.8 million profit the prior year. Same-store sales fell 4.9 percent.

(Top: Photo by John Stephen Dwyer [Public domain], via Wikimedia Commons)

JCK News Director