Supposedly a documentary is in the works with a top filmmaker about Neiman Marcus from the last year Katz was CEO to now, and all its troubles over the last five years, it’s a well known filmmaker showing the juxtaposition between the sales associates and the multi millionaires and aspirational customers who shop with them, the disconnect between top executives and store sales people, and how Neiman Marcus image was exclusive but very out of date. There is also an eye opening look into what the item’s actually cost Neiman Marcus and why the name ‘needless markup’ won’t go away. It was document the tremendous problem Neiman Marcus has with the ‘wardrobing’ customer who will buy an expensive item, wear it, and return it. The documentary is called “30 day Returns” and will be out in 2026 or 2027.
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HBC/SaksGlobal is a poorly run business.
Richard Baker is taking a queue from Eddie Lampert of Sears/Kmart and the grandfather of them all Robert Campeau who bought Allied Stores in 1986 and Federated in 1988 only to put both companies in Chapter 11 Bankruptcy in January 1990.
Huge layoffs today at NMG
The biggest mistake was the multi billion leveraged buyout deal around 2012 or 2013
Never could come out of that kind of debt . Also Karen katz had bad luck with her initiatives ie target / designer colab ect
No one wanted the job and gvr was under qualified and took advantage to pad his pockets vs steering the company to success . Sold them out
I think they are filming in Dallas as they prepare to close the flagship store.
Who is the director .
If it focuses on how poorly the company was run after bankruptcy that would be worthwhile. That was the chance to make things great and instead poor decisions, clueless board and ego centric ceo did us in.