Back to top
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Amazon.com, Inc. (AMZN) - free report >>
We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Amazon.com, Inc. (AMZN) - free report >>
Image: Bigstock
Luxury Retailer Neiman Marcus is Reportedly Exploring a Sale
On Tuesday, Neiman Marcus, a high-end department store, is reportedly exploring potential strategic alternatives, including a sale of the company or other assets.
Neiman Marcus, which also operates the Bergdorf Goodman and MyTheresa brands, may be in talks to sell itself to Hudson’s Bay Company, the Canadian retail giant that owns other upscale retailers Saks Fifth Avenue and Lord & Taylor. According to The New York Times, Hudson’s Bay had also been discussing a possible merger with department store stalwart Macy’s (M - Free Report) .
This announcement comes after Neiman Marcus reported a 6.8% decline in comparable sales during its recently ended quarter. Its total revenue fell 6.1% during that quarter, too, to $1.4 billion, with adjusted earnings of $126.8 million compared with $183 million in the prior year period.
Like many of its peers, the Dallas-based chain has struggled with decreased traffic, the shift to online shopping, and trying to keep up with Amazon (AMZN - Free Report) , as well as a prolonged period of low fuel prices, which has hurt the spending power among its consumers in Texas; many of its 42 stores are concentrated around the state’s metropolitan areas.
Neiman Marcus actually had plans for an IPO, but abandoned those back in January. The retailer is currently owned by private equity firm Ares Management LP (ARES - Free Report) and Canada Pension Plan Investment Board; the acquisition went through in 2013 for $6 billion.
Zacks' 2017 IPO Watch List
Before looking into the stocks mentioned above, you may want to get a head start on potential tech IPOs that are popping up on Zacks' radar. Imagine being in the first wave of investors to jump on a company with almost unlimited growth potential? This Special Report gives you the current scoop on 5 that may go public at any time.
One has driven from 0 to a $68 billion valuation in 8 years. Four others are a little less obvious but already show jaw-dropping growth. Download this IPO Watch List today for free >>