Neiman Marcus news and archive

Neiman Marcus agrees CBD oil is a major beauty trend

Cannabis oil is everywhere in the beauty market. Luxury retailer Neiman Marcus is now the newest home for the cult beauty ingredient. The Dallas-based retailer, which integrates chains including Bergdorf Goodman, Mytheresa, Horchow and Neiman Marcus Last Call, has announced that five locations plus ecommerce will now carry a number of CBD beauty...

RetailFeatured

Neiman Marcus iLabs exec no longer believes in internal teams

The founder of the Neiman Marcus iLab contends retailers are hindering innovation - a surprising theory from a retail executive who six years ago had helped develop an innovative program to use technology to improve the consumer experience. With this background and strong stance on the state of the retail industry, Scott Emmons has joined...

Report

Neiman Marcus Q1 net loss widens

Neiman Marcus Group Ltd LLC announcing its financial update for the first quarter ended October 27, 2018 said that total revenues of 1.10 billion dollars, represented an increase in comparable revenues of 2.8 percent from the same quarter a year ago. “Our first quarter results, marking our fifth consecutive quarter of comparable revenue...

Retail

UK tech retailer Soda Says expands to American market

Consumer tech retailer Soda Says, a UK-based company specializing in accessories across wellness and lifestyle categories, has just made its was to the U.S. market. Founded by Grace Gould in 2017, Soda Says has an agenda to make tech more accessible, with a mission statement “to curate tech products that makes sense for the world we live in, not...

Business

Bondholder says Neiman Marcus might default

Things aren't looking pretty for Neiman Marcus. Business of Fashion has reported that Marble Ridge Capital LP said in a letter to Neiman Marcus Group Ltd LLC that the luxury department store company may be in default on its debt after it moved its MyTheresa business into an entity belonging to the retailer's private equity owners. "These recent...

ManagementFeatured

Neiman Marcus announces senior executive changes

Neiman Marcus Group has announced changes to the senior executive team. The company said, Carrie Tharp and Adam Orvos have both expanded oversight to deliver Geoffroy van Raemdonck’s strategy to transform the business and position Neiman Marcus Group to create a new, engaging, luxury retail experience for global customers. These two promotions,...

Report

Darcy Penick named President of Bergdorf Goodman

Neiman Marcus Group has appointed Darcy Penick as the President of Bergdorf Goodman. Starting her new position on September 4, 2018, Penick, the company said will report directly to Geoffroy van Raemdonck, Chief Executive Officer, Neiman Marcus Group. “Darcy’s impressive leadership skills coupled with her success in digital and international...

People

Neiman Marcus names new CFO

Neiman Marcus Group has named retail veteran Adam Orvos as their new Chief Financial Officer. Orvos will begin in his role on April 25. In the interim, CFO Dale Stapleton will continue in his role as Neiman Marcus' vice president and chief accounting officer. The 53 year old business executive recently served as CEO of Total Wine & More from May...

Report

Q2 comparable sales rise 6.7 percent at Neiman Marcus

Neiman Marcus Group Ltd LLC, for its second quarter of fiscal year 2018 ended January 27, 2018, reported total revenues of 1.48 billion dollars, an increase of 6.2 percent. During this period, comparable revenues increased 6.7 percent. The company reported net earnings of 372.5 million dollars compared to a net loss of 117.1 million dollars in...

Management |ANALYSIS Featured

The good, the bad, and the ugly of Trump’s new tax policy for U.S. retailers

Retail in the U.S. is largely a domestic industry, agree market experts. As such, the new taxation announced by Trump’s Administration will generally favor national retailers. The Tax Cuts and Jobs Act’s lower corporate tax rate benefits retailers more than other businesses in the country as this is a predominantly national market. Lowering the...

PeopleFeatured

Neiman Marcus names new CEO

Neiman Marcus has named Geoffrey van Raemdonck as their new chief executive officer. He succeeds Karen Katz, who has served as chief executive since 2010. Prior to his new role, Raemdonck was the group president for Europe, the Middle East and Africa and global retail travel at Ralph Lauren. Before that, he was chief executive of St. John Knits...

Report

Neiman Marcus Q1 comparable sales grow 4.2 percent

Neiman Marcus Group has reported that its comparable revenues rose 4.2 percent in the first quarter of fiscal 2018 from the same quarter a year ago – the first increase since the fourth quarter of fiscal 2015 – supported by the company’s “Digital First” strategy and recent investments in new technologies and marketing tools. For the quarter...