Neiman Marcus Looks to Raise $100 million in IPO
Home & Textiles Today Staff -- Home Textiles Today, July 25, 2013
Neiman Marcus in late June filed paperwork with the Securities and Exchange Commission for an initial public offering, with stock to be sold by current shareholders.
The company - which operates 41 Neiman Marcus department stores as well as Bergdorf Goodman, Horchow and Last Call - was acquired in 2005 by private equity firms TPG Capital and Warburg Pincus LLC for $5.1 billion.
Earlier this month, Neiman Marcus reported that third quarter net income jumped 13.0% to $70.8 million. Sales rose 3.8% to $1.10 billion, with comps up 3.6%.
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