My stores sales been lagging.
We are a top ten store too here in Houston.
Think people just spent out. never seen so much looking buying zero.
It gets old.
Saw elsewhere Farfetch crashed and assets being sold off. They owned like four percent of us. We have almost no cash or I bet Raemdonck would want to buy that back.
I don't think that will change after Christmas.. hours will def be cut bad in January
Farfetch has to sell it's stake in Neiman's. By April 30.. will Raemdonck want it back .doubt it
he can't afford it.
Saks wont buy it. 2024 looks bad for us
You need nothing from Neiman's.
Or it can be bought for less elsewhere in most cases.
Going after only the top spenders and not having merchandise the "aspirational" could buy was a big mistake. We will see sales decline for the next year. Or more till we get better strategy.. plus many of the rich still go to TJ Maxx .Nordstrom rack etc
Less than 1% of the US population can truly afford Neiman Marcus.. So if that small percentage of shoppers is not buying, then the store is in trouble. Very, very few people can truly afford $1,000 sweaters and $3,000 handbags…..very few.
Weak holiday at Boca.
Thought it be stronger cause we closed Palm Beach
Neiman's doesn't do very well in the North East. The Westchester store included. It already closed Natick..which was a really weak store.
Weakest stores also include flagship.
Plano.
Many stores do not make that much profit. Surprised we only closed seven in bankruptcy
I wonder why the NM at Roosevelt Field does not do well while other stores like Nordstrom or Bloomingdales might do better?
Bergdorf is busy .
As long as new York isn't in upheavel..
The Roosevelt Field store performs poorly . Always has. The Other stores there do way better business .bloomingdales it's a huge store there.
If it wasn't a new store it would be on the closing list. Instead theyclosed the NYC location .which was dead too. As Simon property is no fan of this company our stores in its malls may lose their leases one day..it would be Geofreys fault . We aren't needed in any city per se
I was in two NM stores in the last few days and BG. I was in BG last weekend and it was busy. On Friday, I was out on Long Island and the NM in Roosevelt Field was not busy at all while other stores were. I was in King of Prussia NM on Saturday, again not too busy compared to other stores. I was quite surprised.
That share helped bankrupt Farfetch..one of worst business deals in history .doubt anyone will buy it.
Who wants garbage to weigh down a balance sheet?
Another reduction is probably in the works.
I heard our Christmas numbers are down six percent plus.almost seven . Across the board .
People must be waiting for last call. Which of course is often still overpriced ,even with my discount
Not as busy at Coral gables either.
Seen many high spenders but way less from my book.. dissapointing