Neiman Marcus Group faces fourth straight quarterly loss

Neiman Marcus posted a net loss of $24.9 million in the quarter, compared to a profit of $3.8 million in 2016
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Upscale retailer Neiman Marcus Group LLC, which has been exploring strategic options including a sale, reported its fourth straight quarterly loss, as it struggled in the face of intense competition from online and fast-fashion retailers.

The company also reported a 5 percent fall in same-store sales for the third quarter ending April 29.

Neiman Marcus posted a net loss of $24.9 million in the quarter, compared to a profit of $3.8 million, a year earlier.

Dallas-based Neiman Marcus earlier this year shelved plans for an initial public offering and said it was exploring options, including changes to its capital structure change or a sale of the company, as it struggles with an enormous debt load.

Saks Fifth Avenue owner Hudson's Bay Co had approached Neiman Marcus about a potential combination earlier this year, but talks have stalled, the Wall Street Journal reported.

 

 
 
 
 
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