Neiman Marcus Exploring Options, Including Potential Sale -
By RACHEL ABRAMSMARCH 14, 2017
The high-end department store Neiman Marcus said on Tuesday that it was evaluating its strategic options, including putting itself up for sale.
The disclosure highlights wider struggles at department stores, which have struggled to adjust as quickly as the rest of the retail industry to the new ways
that people shop — increasingly online, and away from brick-and-mortar stores.
The company operates 42 stores in the United States and two Bergdorf Goodman locations in Manhattan, according to its website.
The private equity firms Ares Management L. P. and CPPIB purchased Neiman Marcus in 2013.
The ratings service Standard & Poor’s cited that as one reason it downgraded Neiman Marcus’s credit rating to triple C-plus last month.
Department stores as a whole have struggled to compete online.
Neiman Marcus said it had not set a timetable to evaluate all of its options.