Neiman Marcus looks to raise $100 mil in IPO
Retail Editor 1 -- Home Textiles Today, June 24, 2013
Dallas - Neiman Marcus today 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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