Neiman Marcus cuts jobs and pontificates the fate of Last Call

Due to a shift in customer shopping habits and nearly $5 billion in borrowed buyout debt, Dallas-based department store chain, Neiman Marcus, recently announced that it is implementing a company reorganization plan that includes cutting 225 employees and taking a hard look at the future of its Last Call outlet division.

Neiman Marcus cut 225 jobs nationwide. - Neiman Marcus

There were additional cuts earlier this year due to the closure of three Last Call Stores. A total of 37 stores remain open, but the company is not ruling out more closings in the near future. In an effort to maintain its status quo as a high-end luxury retail leader, the company claims it is streamlining operations to provide a tailored shopping experience propelled by analytics and digital performance.

While Neiman Marcus tossed around the idea of an initial public offering and a sale over the past twelve months, the company decided back in June that it has ceased all conversations regarding any form of sale.

Copyright © 2018 All rights reserved.

Luxury - MiscellaneousRetail