Neiman Marcus in Transformation Mode
5 days ago - By WWD
The Neiman Marcus Group sees plenty of runway ahead as it sorts out its balance sheet and looks to transform.
Even with $4.5 billion in debt lingering over the business, chief executive officer Geoffroy van Raemdonck said the company is ready to gain altitude - and is rolling, with a 2.8 percent comparable sales gain for the first quarter.
But the company's balance sheet will ultimately need to be reconfigured before the luxury retailer can really soar.
“Neiman Marcus Group has been in discussions with our lenders and investors to improve our balance sheet and strengthen NMG as a company,”...
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