Two years after it filed for a $100 million initial public offering, Neiman Marcus on Tuesday said it had once more registered with the Securities and Exchange Commission (SEC) after more than a decade under private equity ownership.
The century-old luxury retailer—which operates 43 namesake department stores as well as Manhattan’s storied Bergdorf Goodman, the Last Call off-price chain and online shopping site MyTheresa—remained tight-lipped about how many shares it will offer and at what price, but proposed a placeholder valuation of $100 million.
According to the SEC filing, the Dallas-based retailer reaped $4.8 billion in revenues in 2014 and posted 22 straight quarters of positive comparable sales growth through the end of fiscal Q3. The retailer’s customer base is 79 percent female, with 48 percent of shoppers aged 50 or younger and 38 percent have a median household income of more than $200,000.
Not many details were disclosed about how Neiman Marcus intends to use the cash it will raise from the IPO, but it did outline plans to invest in mobile technology, optimize its omnichannel capabilities and expand its international footprint.
The company went private in 2005 when it was sold to Texas Pacific Group and Warburg Pincus. After filing for an IPO in 2013, Ares Management and Canada Pension Plan Investment Group picked it up for $6 billion instead.
Neiman Marcus plans to list the stock under the ticker “NMG.”