Neiman Marcus has big plans after IPO

Neiman Marcus plans to grow sales by investing in technology, working with new designers and expanding its footprint, according to IPO paperwork the retailer filed with the SEC.

Neiman Marcus Group has filed plans for an initial public offering — for the second time in two years — of $100 million (the sum is a placeholder that doesn’t necessarily reflect the final offering amount.) The company said it would trade under the ticker symbol NMG.



Neiman Marcus had previously filed to go public back in June 2013. But owners TPG and Warburg Pincus instead sold the luxury retailer to Ares Management LLC and the Canada Pension Plan Investment Board for $6 billion.



Neiman Marcus reported $4.8 billion in revenue for fiscal 2014. It has posted 22 consecutive quarters of positive same-store sales growth through the end of the third quarter of fiscal 2015.



In its filing, Neiman Marcus highlighted plans to plans to remodel 23 of its 43 full-price stores and is scouting opportunities to open additional stores in the U.S. That includes two forthcoming locations in New York.



The Dallas-based Nieman operates 41 full-line stores, 42 lower-priced outlets and the high end Bergdorf Goodman department store in Manhattan, as well as Mytheresa.com. It said in its prospectus that almost 40 percent of its customers had a household income of more than $200,000. The retailer has been investing in its full-line stores in an effort to make the most of a rebound in luxury spending in the United States.