Retail – USA: Neiman Marcus momentarily pushes back its Wall Street comeback

The US retail sector is experiencing a critical phase especially involving big fashion brands. While Macy’s, as reported earlier this week, plans the closure of 68 of its stores laying off 6,200 employees; Neiman Marcus has “temporarily frozen” his IPO debut that would bring it back in the lists of Wall Street, from where it retired in 2005. According to Reuters, Neiman Marcus board did not explain the reasons for the waiver, which, however, can be easily outlined by the financial state and the difficulty to beat the competition from online portals. Reuters also reported that the entrance to Wall Street would serve to Neiman Marcus to repay its debt and write off net losses in a year that has passed from 10.5000000 to 23.5000000 dollars. In the last fiscal quarter, the sign has closed with a turnover of $ 1.08 billion, down 7.4% from the previous year.


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