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Key Insights
- Neiman Marcus is leaning into the importance of customer relationships in luxury retail.
- The retailer hasn’t been dormant during Covid-19, rolling out new ways to drive sales and keep associates employed.
Neiman Marcus is preparing to emerge from bankruptcy by the end of September after receiving court approval for its reorganization plan last Friday, which reduces debt and adds liquidity to its balance sheet.
The restructuring follows a Chapter 11 filing in early May and is key to the luxury retailer’s turnaround, providing it with both the time and resources to complete a digital transformation strategy underway before the pandemic.
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