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BUSINESS
January 23, 2014 | By Tiffany Hsu
Neiman Marcus Group said data from more than a million of its customers' payment cards may have been nabbed by hackers who breached the upscale retailer's system last year. The company said malicious software was surreptitiously installed to collect, or “scrape,” payment card information from July 16 to Oct. 30, leaving 1.1 million cards “potentially visible” to hackers. Though the investigation is ongoing, Neiman Marcus said it has been informed by Visa, MasterCard and Discover that 2,400 cards have since been used fraudulently.
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BUSINESS
August 26, 1988 | MARTHA GROVES, Times Staff Writer
Two fancy mail-order businesses would join forces under a tentative deal announced Thursday, with Neiman-Marcus Group acquiring the Horchow Mail Order business for an undisclosed sum. Horchow, a privately held Dallas company started by a former Neiman Marcus employee, sells elegant household linens and gift items through the Horchow Collection as well as a broader range of merchandise through its Trifles catalogue and discounted close-out items through the Grand Finale catalogue.
BUSINESS
January 16, 2014 | By Tiffany Hsu
Neiman Marcus Group offered more details Thursday about the data breach it disclosed late last week, saying that although credit and debit card information was stolen, customers' social security numbers and birth dates were not. And because the company doesn't use PIN pads in its stores, the identifying numbers that are usually punched into the machines appear to be safe, Neiman Marcus said. And, as of Wednesday, the company said accounts linked to its Neiman Marcus card aren't showing signs of fraudulent activity.
BUSINESS
August 27, 1987 | MARTHA GROVES, Times Staff Writer
Shareholders of Carter Hawley Hale Stores on Wednesday overwhelmingly put their stamp of approval on the Los Angeles retailer's plan to split into two companies.
BUSINESS
July 31, 1987 | MARTHA GROVES, Times Staff Writer
Wall Street's latest glamour company got its unveiling Thursday with the first extensive details of the new Neiman-Marcus Group that will emerge later this summer. The specialty store company is being formed as part of a proposed restructuring of Los Angeles retailer Carter Hawley Hale Stores, on which shareholders will vote Aug. 26.
BUSINESS
August 13, 1988 | MARTHA GROVES, Times Staff Writer
Allen I. Questrom, the highly regarded former chairman of Bullock's and Bullocks Wilshire, on Friday was formally named president and chief executive of Neiman Marcus, the prestigious Dallas-based specialty store chain. At the same time, Richard C. Marcus, grandson of one of the chain's co-founders, announced his resignation as chairman and chief executive.
BUSINESS
April 4, 1995 | HOPE HAMASHIGE, SPECIAL TO THE TIMES
Wet Seal Inc., which specializes in apparel for young women, said Monday that it has agreed to purchase the Contempo Casuals women's clothing chain for $1 million in stock, nearly tripling the number of stores Wet Seal owns nationwide. The company is buying the 239-store chain from Neiman Marcus Group Inc. of Chestnut Hill, Mass., which had closed 50 Contempo sites last year because of poor sales. The transaction is expected to be completed at the end of May.
BUSINESS
August 17, 2005
Neiman Marcus Group Inc. shareholders approved the $5.1-billion sale of the luxury retailer to buyout firms Texas Pacific Group and Warburg Pincus, which plan to expand the company as demand for designer goods surges.
BUSINESS
October 7, 2009 | Times Wire Reports
With even super-affluent shoppers tightening their Gucci belts, luxury retailer Neiman Marcus Group Inc. unveiled its Christmas Book with a nod to this new frugality. More than 40% of the gifts in the catalog's 83rd edition cost less than $250.
IMAGE
October 7, 2007 | Valli Herman, Times Staff Writer
WHERE would we be without Neiman Marcus? Without the opportunity to buy a $35-million Boeing jet, a personal dirigible, a pair of camels or his and hers action figures in the buyers' likenesses -- and all at your neighborhood department store? And where would we be without 39 of these stores nationwide, each bearing the unmistakable NM logo that has come to symbolize everything that's garish and elegant, extravagant and outlandish?
BUSINESS
August 17, 2005
Neiman Marcus Group Inc. shareholders approved the $5.1-billion sale of the luxury retailer to buyout firms Texas Pacific Group and Warburg Pincus, which plan to expand the company as demand for designer goods surges.
BUSINESS
April 30, 2005 | From Bloomberg News
Neiman Marcus Group Inc. got bids from three buyout groups by its deadline, people familiar with matter said. Neiman Marcus received offers from three investment groups: Blackstone Group and Thomas H. Lee Partners; Kohlberg Kravis Roberts & Co. and Bain Capital; and Texas Pacific Group and Warburg Pincus, people involved with all of the groups said. The board of Dallas-based Neiman Marcus will meet over the weekend to consider the offers.
BUSINESS
March 17, 2005 | From Associated Press
Capitalizing on a white-hot luxury market, Neiman Marcus -- the department store chain whose name is synonymous with status shopping -- said Wednesday that it might put itself up for sale. Neiman Marcus Group Inc. said that it was "exploring various strategic alternatives to enhance shareholder value," including selling itself, but that it might end up doing nothing. The retailer's stock jumped on the news, as investors considered the prospect of a bidding war for the firm.
BUSINESS
June 3, 2004 | From Bloomberg News
Upscale department-store retailer Neiman Marcus Group Inc. said fiscal third-quarter profit rose 67% as sales registered their biggest gain in almost eight years and the company controlled costs. Net income rose to $68.8 million, or $1.40 a share, meeting expectations, from $41.1 million, or 87 cents, a year earlier. Sales rose 21% to $878 million, the Dallas-based company said. Chief Executive Burton Tansky is selling more goods at full price and reducing inventory.
BUSINESS
October 7, 2009 | Times Wire Reports
With even super-affluent shoppers tightening their Gucci belts, luxury retailer Neiman Marcus Group Inc. unveiled its Christmas Book with a nod to this new frugality. More than 40% of the gifts in the catalog's 83rd edition cost less than $250.
BUSINESS
March 6, 2003
Saks Inc said fourth-quarter profit rose 26% as the company reduced costs by combining divisions and eliminating jobs. Net income increased to $68.1 million, or 47 cents a share. Sales fell 3.7% to $1.84 billion. Neiman Marcus Group Inc. said its fiscal second-quarter earnings surged 34% to $32.5 million, or 68 cents a share. Sales rose 3.3% to $938.5 million.
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