First their earnings are all based on a tax credit...Now creditors are threatening to sue. They just lost that supposed rent the runway collaboration that was supposed to bring in millions... Now their data breach settlement was thrown out which... read more
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Topics regarding layoffs at Neiman Marcus Group
Things are going to get pretty interesting soon... https://www.cnbc.com/2018/09/21/debt-investor-says-neiman-marcus-may-be-in-default-and-insolvent.html
Articles today are focused on earnings, but they are somewhat overlooking the fact that Neiman Marcus just announced that 3 more Last Call locations will be closing in July. This is in addition to the 11 locations that have already closed earlier... read more
The employees might end up working at Farmers market
https://investorplace.com/2018/02/8-companies-disappear-2019/#.WoRJB53wbRY "Neiman Marcus is not a publicly-traded company, but a noteworthy name to investors all the same. The struggles that the department store chain faces are applicable to other... read more
Everyone believing the media hype that Amazon is causing retail's demise when Amazon only accounts for around 4% of total retail, and now they're even laying people off... read more
Excerpt: "Standard & Poor's lowered its rating on department store operator Neiman Marcus Group from B-minus to triple-C-plus, putting it in a ratings category that signals substantial risk of default. It is keeping a negative outlook. Analysts say... read more
Nice little snippet from this linked article: https://www.cnbc.com/2018/02/02/as-retailers-herald-tax-savings-still-closing-stores-axing-staff.html "Third, the new tax law actually puts more pressure on leveraged retailers (of which there are many)... read more
It seems things are truly as bad as we have feared. A list of retailers that are expected to announce bankruptcy next year is out, and to nobody's surprise, Neiman Marcus Group is on it. 2018 will be awful... read more
So they lost 531 milliion, My guess was 650 million but over guessed. Neiman marcus s---s stated on facebook 529 million they were much closer and I am wowed by their near accuracy... Despite this they paid the Board more....... see my post below... read more
Interesting article that interviews Hudson's Bay CEO and quotes him saying that "closing stores starts a spiral that can't be stopped........It's almost as if he were speaking directly to NM. Hudson's Bay pulled the plug on the NM acquisition because... read more
just saw the latest on this . The company already is down 165 million for this financial year. according to Neiman Marcus s---s page on Facebook it is likely around 529 million this time. All the down scaling they have already done with this... read more
Neiman Marcus Last Call discussion board is currently the top trending board on the StoreClosing.com https://www.thestoreclosing.com/
I guess the real question is what will happen first, Nieman Marcus announcing bankruptcy or the opening of the Manhattan store? This is an an excerpt of the article (link to article below) "One industry source briefed on the talks claimed the... read more
Looks like NM wants to distance itself from the Last Call brand, and focus more on its bread and butter high-end luxury. Wouldn't be surprised if they closed Last Call stores all together. Future for NM looking very bleak, writing is on the... read more
It's been confirmed, Neiman Marcus is closing ten more Last Call stores. This will cost nearly 250 people their jobs. Sores are: Horchow Finale store in Plano Philadelphia Premium Potomac Mills in Woodbridge Arizona Mills in Tempe Gurnee Mills in... read more
inbound phone reps have had their standards "raised" this is a thinly veiled attempt to fire them and have their jobs sent overseas. Chris Perpura VP of customer service had a meeting to announce non US workers may be hired. long term employees such... read more
https://m.facebook.com/story.php?story_fbid=760273704155361&id=238642959651774. Saks dodged a bullet...the company a mess top to bottom...sad. Get out while you can if you feel your job is threatened
More Neiman Marcus layoffs today. I was an hourly employee that has been pulling 70 - 120 internet orders a day, consistently. I was part of the working poor, now I am part of the unemployed poor. I do not comprehend what would possess a company to... read more
The company is such a disaster 225 more are getting laid off...not a suprise....As they are set to lose 100s of millions more... They call it. "streamlining" ....
More troubles and more data breaches for Neiman Marcus....maybe this is why it's Lead CyberSecurity Officer just resigned..... https://www.dmagazine.com/business-economy/2017/07/neiman-marcus-continued-struggling-with-data-breaches-documents-show/
Bankruptcy seems like the only likely conclusion. No one will purchase them, Its inevitable, just a matter of time..... http://bankruptcompanynews.com/neiman-marcus-group-ratings-lowered/
They are closing the Allen store...That is two closures in a few months with no notice..According to Neiman Marcus S---s on facebook the company is set to lose over 350 million this year....Be weary... Things are clearly not good.. Plus they are... read more
Lets try to estimate how big the next round of layoffs will be and who will be affected the most. At this point in time, given the horrible financial performance we should be ready to face some major job loses.
Q3 2017 earnings just released. Net loss of $25 million and 7th consecutive quarter of sales declines. Wow, this is obviously not sustainable, something has got to give, very soon imo... read more
Will layoffs be announced? I think they will. Saks just lost a hundred million in sales..i bet they lost at least 50 million..they are way smaller too
The movement within Natick certainly indicates a closing.But all is silent ? Any dates for this impending closing?
Just saw on neiman marcus s---s on facebook that the Denver last call store closed and employees ended up with no notice on it.. They used a storm to drop their lease. hope the 25 or however many employees recover soon. that was their only off price... read more
http://www.cnbc.com/2017/05/08/hudsons-bay-taps-debt-adviser-amid-neiman-marcus-bid-challenges-sources.html. Saks has ran into major roadblocks to buy the company. ..IDIOTS.... What they really did was set the stage to buy chunks of it later... While... read more
Interesting article on NM future planning to enter into bankruptcy. Excerpt below: http://nypost.com/2017/05/04/saks-fifth-ave-neiman-marcus-merger-talk-hits-a-roadblock/ "But talks between the two have stalled as Neiman’s term loan lenders and... read more
All of you predicting bankruptcy and pending doom for Neiman Marcus seem to be right. Look at all these articles written just this past week (7 links below). Also, Neiman Marcus Su*ks Facebook page has a wealth of information. Just seems like its a... read more
all hell is occuring in the top echelon of the company. a secret leak said they are trying to sell the company. Karen Katz would be removed. Saks supposedly wants to.buy the company but not the debt. which means it would be partially ripped... read more
I see everyday that there are new job openings at NM? Why is this? It doesn't make sense.....
Neiman Marchs will go into bankruptcy, likely between 2018-2020. Problems began when TPG (and Warburg Pincus) drastically OVERPAID for the company when prior owners decided to auction it off. This was back in 2005 when economy was good. TPG figured... read more
Neiman Marcus will run out of cash probably in 2017 its down to 42 million and that's with emergency loans. they also just lost 430 million in past two quarters..now they are even trying to rent clothes. they are a complete wreck, firing Katz would... read more
Saks is in negotiations with Macys..this just broke news..The combined company and Nordstrom seperately. never mind Amazon would crush what little left there is of Neiman Marcus...Am following this.
According to the last 10 k filing we are now down about 2600 employees from 2008. or about 12 percent .they had the new store at roosevelt field.plus MyTheresa added..how much more can they cut? time will tell. And they still make no money... Ares... read more
How immanent is this? I guess only KK knows for now but all is pointing that this will happen very soon. I cannot predict things but I can share my gut feeling. It says that Neiman Marcus will be filing for bankruptcy within next 54 days. Why so... read more
The IPI you see referenced way below has been canceled...They are reviewing the whole company top to botom as we speak....a source of anger for the owners in their purchase.. separately. top employees get the boot..26 years of service means you are a... read more