Neiman Marcus Group Layoffs

Topics regarding layoffs at Neiman Marcus Group

A Glimpse into NM's Future...

"Barneys New York, an icon of New York retail, filed for bankruptcy early Tuesday morning, with a plan to significantly reduce its footprint, as it looks for a buyer to stave off liquidation." "The entire industry is in survival mode ... the model... —  read more 

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Post ID: @10pRP2h2

BK

When your bond holders are trying to sell those bonds for pennies on the dollar to cover their asses, you know your a failed asset walking. There’s a reason why Neiman Marcus is on so many Top 10 lists of expected bankruptcies in 2019. Trying to... —  read more 

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Post ID: @ZLcxHVa

Q3 Number are out - Just more of what you expected

"For the third quarter ended April 27, 2019, the Company reported total revenues of $1.1 billion, representing a decrease in comparable sales of 1.5% from the same quarter a year ago. During the quarter, the Company reported a net loss of $31.2... —  read more 

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Post ID: @ZvUUQcs

Junk bonds and denying returns

The return policy being reduced back to 30 days from 60 will run more customers off..The company being financed by junk bonds isnt much better...Those creditors know its failing...when i started ways ago company wasn't a tenth the mess it is now... —  read more 

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Post ID: @ZnSG3lP

Future is looking bleak for NM

Article: Following Neiman Marcus' press release today reporting on Neiman's restructuring and financial performance, Marble Ridge stated: "The Neiman Sponsors today announced the third step in what Marble Ridge contends is a scheme to place the... —  read more 

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Post ID: @YPNUbI0

Surprise, surprise...well...not really

"Neiman Marcus said sales are estimated to decline 1.3% to 1.9% in its fiscal third quarter that ended Saturday" https://www.dallasnews.com/business/retail/2019/04/30/neiman-marcus-sales-considers-sale-mytheresa —  read more 

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Post ID: @YPeKfwr

Nothing New, just another Quarter and another huge loss

Q2 financials come in with another loss, this time $29M. So far for the fiscal year, that puts them at almost $60M in losses. "The luxury retailer reported a net loss of $29 million in quarter ended January 26, compared with net earnings of $372.5... —  read more 

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Post ID: @Y3b6G6F

Going Down In Flames

This company has been run into the ground by the previous owners, board and the C wing. I would not be surprised to see NMG in a couple years on American Greed. It is the worst operationally run company in retail. They do not even know what they own... —  read more 

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Post ID: @XxBn73s

Upcoming court case...Not good

As the company has already laid off 4000 employees the past few years..It looks as though 2019 it may be ripped apart to pay off the debt..New CEO Geoffrey can't be trusted..have your resumes updated Everyone..They already have chopped benefits And... —  read more 

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Post ID: @WSP0cnR

Neiman Marcus sued by bondholder

http://www.abladvisor.com/news/15394/neiman-marcus-charged-with-fraudulent-transfer-of-1b-of-assets-to-pe-firms "If the Company is unable to repay or refinance the Credit Agreement three months prior to the October 2020 maturity, this will trigger a... —  read more 

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Post ID: @WzWIbK5

Things are getting ugly fast for NM...

Excerpt from article and link below: "Neiman Marcus declined to comment on the letter." “The letter today shows that, clearly, Neiman is in a corner,” said David Tawil, president of Maglan Capital, a distress-focused hedge fund uninvolved in the... —  read more 

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Post ID: @WrVlYE7

Time is running out for Nieman Marcus

$5B in debt is an insurmountable amount to pay off, especially when you are losing money quarter after quarter. They can close all the Last Call stores they want; it's only a matter of time... —  read more 

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Post ID: @VOW1h3x

Mess all over the place..Still

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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Post ID: @VlSjd9f

Neiman Marcus Debt

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 —  read more 

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Post ID: @VjVRD80

More Last Call locations closing

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 

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Post ID: @Ty8WICG

Wasp

The employees might end up working at Farmers market

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Post ID: @S6pYAOS

8 Companies That Could Disappear by 2019

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 

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Post ID: @RJbuhIP

So much for the Amazon scapegoat

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 

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Post ID: @RHZRQn5

Nieman Marcus Credit Rating Lowered

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 

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Post ID: @RH70zOJ

New Tax laws may end up hurting NM

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 

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Post ID: @Rxufk1g

Possible bankruptcy in 2018

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 

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Post ID: @QXyEfvW

Loss was big- company retrentching

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 

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Post ID: @PHLc979

Neiman Marcus - Death Spiral

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 

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Post ID: @PFtXTRg

new results coming- HUGE LOSS to be reported

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 

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Post ID: @PvkeNej

Trouble Lurking at Neiman Marcus Manhattan Store

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 

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Post ID: @Pg5ziLj

Neiman Marcus Last Call - Closing 25% of its stores

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 

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Post ID: @PflXkXu

Ten Last Call stores closing

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 

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Post ID: @PfGBuXZ

Neinans disintegrating

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 —  read more 

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Post ID: @Oxcbg7e

More layoffs for hourly employees

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 

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Post ID: @OtCp2FA

225 new layoffs..breaking news

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" ....

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Post ID: @OsWetji

More Data Breaches for NM

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/ —  read more 

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Post ID: @OnAp7dd

New layoffs.. Texas

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 

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Post ID: @OalYKNj

Layoff estimates

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.

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Post ID: @NLJ5NaO

Neiman Marcus - Another bad Quarter

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 

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Post ID: @NLWFFOC

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