“Needless Markup” is on the rack.
Neiman Marcus, which recently decided not to go public, is exploring strategic options, including a possible sale, it announced in a March 14 filing with the Securities and Exchange Commission.
The Dallas-based department store said that, in addition to a sale, it is also looking at initiatives to optimize its capital structure as well as other alternatives. It has enlisted a financial adviser to explore options, it said.
The news comes as the retailer announced downbeat results for its second fiscal quarter (ended Jan. 28). Sales totaled $1.4 billion, a 6.1 percent drop from the prior year. Comps fell 6.8 percent.
The company reported a $117.1 million loss for the quarter, compared to a $7.9 million profit the following year.
(Photo by Phillip Pessar)