Neiman Marcus Exploring Options, Including Potential Sale

Neiman Marcus Exploring Options, Including Potential Sale

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A Neiman Marcus store in West Palm Beach, Fla.

Credit
Ryan Stone for The New York Times

The high-end department store Neiman Marcus said on Tuesday that it was evaluating its strategic options, including putting itself up for sale.

The disclosure highlights wider struggles at department stores, which have struggled to adjust as quickly as the rest of the retail industry to the new ways that people shop — increasingly online, and away from brick-and-mortar stores.

The retailer abandoned its plans for an initial public offering in January. On Tuesday, it reported that revenue had fallen 6.1 percent in the most recent quarter. It has about $5 billion in debt.

Neiman Marcus said it had not set a timetable to evaluate all of its options.

The private equity firms Ares Management L.P. and CPPIB purchased Neiman Marcus in 2013. At the time, the company had largely stopped expanding into new markets, and was focused on growing its e-commerce business. The company operates 42 stores in the United States and two Bergdorf Goodman locations in Manhattan, according to its website.

Department stores as a whole have struggled to compete online. They have struggled to keep apace with Amazon, which has accustomed shoppers to low-cost goods delivered quickly.

Neiman Marcus has also suffered from the overall decrease in traffic at malls. The ratings service Standard & Poor’s cited that as one reason it downgraded Neiman Marcus’s credit rating to triple C-plus last month.

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