Neiman Marcus is said to consider splitting into three companies

Dec. 14, 2021 9:21 PM ETMBy: Joshua Fineman, SA News Editor3 Comments

February Retail Sales Decline Hit Luxury Stores The Hardest

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  • Luxury department store chain Neiman Marcus is said to be considering breaking itself up into three companies.
  • Neiman Marcus is looking at separating its brick and mortar business from its online division and also spinning off Bergdorf Goodman, according to a NY Post report. Some insiders are doubtful though that the department store chains' businesses are strong enough to exist independently.
  • The news comes after the WSJ reported in October that Saks Fifth Avenue was planning an IPO for its e-commerce business. Saks spun off the e-commerce division as a separate entity in March at a $2 billion valuation, selling a $500M stake in the business to venture-capital firm Insight Partners at the time.
  • The success of Saks.com spin-off from Macy's (NYSE:M) rival Saks Fifth Avenue has also been relevant to Macy's (M) after activist Jana Partners argued in October that a similar e-commerce unit split would be beneficial to Macy's stock price in October.
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