Neiman Marcus Group is sharpening its focus on its core business: selling full-price luxury goods. The retailer announced that, as part of its four-year “transformation growth plan,” it is closing the majority of its 22 Last Call outlet stores before the beginning of its next fiscal year, which starts in early August. Select Last Call locations will remain open to serve as a selling channel for Neiman Marcus residual inventory.
The retailer said the move will allow it to focus on serving its core high-value luxury customers and free up resources to invest in Neiman Marcus and Bergdorf Goodman. The company expects to eliminate approximately 500 roles in the Last Call organization during the next eight months.
Source: www.chainstoreage.com
