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.
https://americaclosed.com/retail-bankruptcies-expected-2018-sears-bon-ton-24-retailers-poorest-credit-ratings/
Did anyone get a raise?
Saks is not going to be back in the DFW market. They are suffering from major headwinds themselves. Whether NM survives or not is anybody's guess. New CEO is an act of desperation to resuscitate a brain dead patient on life support.
We Want Saks Fifth avenue to return. Neiman looks like have lost it's momentum.
Not so fast, Cowboy.
Barney's left Dallas, and Neiman's (at Northpark) looks like a Kohl's inside. I walked around for 15 minutes and not ONE person in the men's department - the open area men's department - welcomed me or asked if I needed help. They did, however, stand around talking to each other. The area is a mess. The men's merchandise is out of touch with 90% of the world. Sak's will come back and will be downtown. Hold tight. Luxury goods and unbridled service will be in Dallas soon.
I do agree that whoever the GM is at Northpark, the buyers of the men's merchandise and anyone who thinks they are "influencing" the men's fashion (vs trends) at NM needs to move on. Out. Of. Touch.
Saks probably is not returning to Dallas...it had poor taste and didn't support Barney's or it...They made their bed....
Who let Karen run roque? Glad she is "retiring." The Northpark Center store has lost all touch with their customer base. The merchandise is bizarre (who is the buyer for this crap?) and the customer service is approaching Kohls. Today, NM offers no differentiator. The GM there needs to join Karen and leave. The overall pride of the store has gone. Its a dump now. I hope the new CEO can salvage the merchandise selections and the horrible culture he will inherit. I have not heard of 2018 bankruptcy from a credible source, otherwise why would they spend the money on a new CEO from Ralph Lauren? Karen and her suicide squad's uninspiring groupies did nothing more than court the out of touch "famous influencers" who did nothing. Rumor is that Saks is going to make a stellar comeback in Dallas very soon. Let's hope luxury returns to Dallas and layoff's can be prevented.
yep, writing is on the wall. last year's announcement of closing down 10+ Last Call stores is beginning of the end. expect more Last Call closings this year and larger quarterly losses