Monday, March 21, 2005

Neiman Marcus Group looking for buyer

Source: By Home Textile Today

DALLAS - The Neiman Marcus Group, Inc. is exploring strategic alternatives, including the possible sale of the company, it stated.

The company has retained Goldman Sachs & Co. as its financial advisor.

Neiman's is the first department store company to publicly announce a potential sale in the wake of the Federated/May Co. merger news. Analysts have speculated the merger of the country's two largest department store chains could trigger a wave of consolidation among smaller department store companies.