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Neiman Marcus Explores Sale Potential

Retailer hires investment firm as it considers possibility of sale

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Neiman Marcus (Dallas) shared that it is exploring a variety of ways to improve business, including the possibility of selling the company. To aid the company in that search, it hired investment banking firm Lazard Ltd. (New York) earlier this month.

Other potential strategic alternatives include the sale of other assets and initiatives to optimize its capital structure, reports The Dallas Morning News. The company has set no deadline as it explores these options.

The news came after the company reported its sixth consecutive quarter of sales declines. The company attributes these declines to a change in consumers’ shopping habits as well as to problems with new systems including its inventory tracking.

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