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Neiman Marcus files IPO

By CAROLINE LEE, UPI.com   |   June 24, 2013 at 3:32 PM   |   Comments

June 24 (UPI) -- High-end department store Neiman Marcus is planning to sell shares of the company, along with its collection of designer goods.

The company filed for an initial public offering Monday, more than eight years after going private.

Few details have been released about the IPO, including how many shares the company will sell, how much shares will cost and which stock exchange it will list on.

Neiman Marcus earned $160.8 million in profit in a 39-week period ending in April, up six percent from last year. The IPO filing follows rumors about competitor Saks Fifth Avenue weighing options on going public itself.

The Neiman Marcus offering is run by Credit Suisse.

© 2013 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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