Thursday, July 27, 2017

Luxury department store puts a restructuring plan in motion

Neiman Marcus is making moves to offset its debt and improve its capital structure.
 
The luxury department store’s first step was to eliminate 225 positions. Affected employees — which span all brands and operating divisions — will receive severance packages, and also be considered for other job openings within the company, according to the Dallas News.
 
According to the report, a company statement said the retailer is “also assessing our Last Call outlet portfolio to ensure [we are] optimizing the store footprint and ensure we have the right mix of brick-and-mortar and online stores to meet our customers' evolving demands.” Last Call stores, which average about 25,000 sq. ft., are located in outlet centers and neighborhood shopping centers.. . . more

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