Monday, October 25, 2021
82.7 F
Fort Worth

Neiman Marcus withdraws IPO registration filed in August 2015

🕐 1 min read

Neiman Marcus Group filed to withdraw its registration statement for an initial offering, 17 months after filing to go public.

“The company has determined that it is not in its best interests to proceed with the initial public offering” at this time, according to a filing Friday with the Securities and Exchange Commission.

Last month, the luxury department-store chain reported plummeting sales and a wider loss for its fiscal first quarter, suggesting that a downturn among upscale chains was hitting Neiman Marcus particularly hard. Same-store sales, a closely watched benchmark, fell 8 percent in the three months ended Oct. 28, the company said in a statement at the time.

Neiman Marcus, based in Dallas, filed a prospectus in August 2015, two years after a $6 billion buyout led by Ares Management and the Canada Pension Plan Investment Board.

The retailer previously filed to go public in June 2013, before owners TPG and Warburg Pincus sold it to Ares and CPPIB.

Related Articles

Our Digital Sponsors

Latest Articles

Texas Rangers
Fort Worth Business Press Logo
This advertisement will close in
00
Months
00
Days
00
Hours
00
Minutes
00
Seconds
seconds..
Click here to continue to Fort Worth Business Press

Not ready to subscribe?

Try a few articles on us.

Enter your email address and we will give you access to three articles a month, to give us a try. You also get an opportunity to receive our newsletter with stories of the day.

This field is for validation purposes and should be left unchanged.

Get our email updates

Stay up-to-date with the issues, companies and people that matter most to business in the Fort Worth.

  • Restaurants
  • Technology
  • and more!

FWBP Morning Brief

FWBP 5@5

Weekend Newsletter

  • Banking & Finance
  • Culture
  • Real Estate