Home / Knowledge / News / Apparel/Garments / Neiman Marcus Group to shut down Minneapolis store

Neiman Marcus Group to shut down Minneapolis store

24
Jul '12

The Neiman Marcus Group Inc. announced that it would be closing the 118,000 square foot Neiman Marcus store located in Nicollet Mall in Minneapolis, Minnesota. The store, which opened in 1991, will be closed by July 2013.

“As it is so rare that we close a store, the difficult decision was based on a great deal of thought, and a careful study of the market as we very much value the relationships we have established in this market,” said Karen Katz, President and Chief Executive Officer of The Neiman Marcus Group, Inc. “However, the store did not meet our long-term operational goals.”

The Minneapolis store employs approximately 107 associates. These associates will either be offered transfer opportunities to other stores or will receive severance packages. “We appreciate our associates for the excellent service they have provided and their dedication to making Neiman Marcus the premier luxury retailer. We are committed to making sure that all of our associates are provided assistance during this transition period,” stated Katz.

The Neiman Marcus Group, Inc. operations include the Specialty Retail Stores segment and the Direct Marketing Segment. The Specialty Retail Stores segment consists primarily of Neiman Marcus, Last Call and Bergdorf Goodman stores.

Neiman Marcus Group Inc


Must ReadView All

Pic: Shutterstock

Textiles | On 12th May 2021

Economic recovery under threat amid surging COVID cases: UN

While the global growth outlook has improved, led by robust rebound...

Pic: 2p2play / Shutterstock.com

Retail | On 12th May 2021

Retailers need to consider changes as US emerges from pandemic: NPD

Millions of new remote and hybrid-remote workers, kids returning to...

Pic: Shutterstock

Textiles | On 12th May 2021

Uzbekistan exported textile products worth $637.7 million in Q1 2021

Uzbekistan exported textile products worth $637.7 million to 54...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Increased need for online fitting solutions as retailers shift to...

Textile Industry, Head honchos

Textile Industry
Head honchos

Marry craft and utility

Textile Industry, Head honchos

Textile Industry
Head honchos

Main challenges are breakdown of supply chain and shrinkage of manpower

Shambhu Nath Jha,

Shambhu Nath Jha

Leading research and consulting firm Fact.MR recently launched a report on ...

Kurt Wedgwood,

Kurt Wedgwood

From design to raw material to fabrication and ultimately to delivery -...

Sandra Sequeira,

Sandra Sequeira

The JD Institute of Fashion Technology is the educational division of JD...

Sameer Sonkusale & Rachel Owyeung, Tufts University

Sameer Sonkusale & Rachel Owyeung
Tufts University

A team at the Tufts University in Massachusetts was recently in news for...

Daniel Roxbury, University of Rhode Island

Daniel Roxbury
University of Rhode Island

Assistant professor Daniel Roxbury and former URI graduate student...

Dave Rousse, INDA

Dave Rousse
INDA

INDA, a global association of the nonwoven fabrics industry, has been...

Vidur Adlakha & Riccardo Bennidini, La Fuori

Vidur Adlakha & Riccardo Bennidini
La Fuori

With an active presence in US, Italy and India, clothing brand La Fuori...

Abhishek Bajaj & Samiksha Bajaj, Samshek

Abhishek Bajaj & Samiksha Bajaj
Samshek

Samshek is a fashion forward tech brand which combines digital experience...

Sweta Agarwal, A Humming Way

Sweta Agarwal
A Humming Way

A Humming Way (AHW) is inspired by the old-world regalia of Rajasthan...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


May 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search