Luxury department store looking for a buyer

Neiman Marcus is searching for a buyer or investor, the New York Post reported.



Neiman Marcus CEO Katz recently visited China and while there met with potential buyers, including Anbang Insurance Group, which passed on an offer to buy the retailer, the report said.



Similar to other department store retailers, Neiman has struggled of late. Revenue felll 4.2% in its latest quarter, and same-store sales were down 5%.



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