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Neiman Marcus up for sale

US department store group Neiman Marcus is exploring potential strategic alternatives for its future, which may include the sale of the company or other assets.

The group’s sales fell 6.1% to $1.4bn (£1.15bn) during the second quarter, ended 28 January. It made a net loss of $117.1m (£96m), down from a profit of $7.9m (£6.5m) during the second quarter last year.

EBITDA was $126.8m (£104.4m) compared with $183m (£150.7m) in 2016.

The group was acquired by private equity firm Ares Management LP  and Canada Pension Plan Investment Board for $6bn ($4.9bn) in 2013.

Neiman Marcus: at a glance

  • The group operates 42 Neiman Marcus stores across the US and two Bergdorf Goodman stores in Manhattan. It also owns 27 Last Call outlets, 13 Last Call studios and one Horchow Finale, as well as four Cusp stores.
  • Neiman Marcus and Bergdorf Goodman are both luxury department stores, while Last Call is Neiman Marcus’ off-price fascia. Horchow Finale is an off-price furniture and home furnishings store and Cusp offers contemporary clothing and accessories.
  • The group’s store operations span more than 6.9m sq ft.
  • In September 2014, Neiman Marcus acquired German etailer Mytheresa.com and Theresa, its flagship Munich store.

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