Retail

Neiman Marcus files for IPO

Neiman Marcus to go public...again
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Neiman Marcus to go public...again

Luxury department store Neiman Marcus on Tuesday filed plans for an initial public offering for the second time in two years, in a proposed offering for $100 million.

In an SEC filing, the century-old retailer—which operates the Neiman Marcus and Bergdorf Goodman brands, as well as luxury online shopping site MyTheresa—reported $4.8 billion in revenues for 2014.

The company also said that through the end of its fiscal third quarter, it has posted 22 straight quarters of positive quarterly comparable sales growth, at an average increase of more than 6 percent.

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In the filing, the retailer outlined plans to further grow its sales by investing in technology including its mobile site, identifying and partnering with new designers, and expanding its international footprint.

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It also plans to remodel 23 of its 43 full-price stores and is scouting opportunities to open additional stores in the U.S. That includes two forthcoming locations in New York.

Neiman Marcus already operates 41 full-price stores under that nameplate, along with two Bergdorf Goodman locations. It also has 42 "Last Call" off-price stores.

The SEC filing comes two years after a separate IPO filing by Neiman Marcus. That transaction, however, never materialized. Instead, Ares Management and the Canada Pension Plan Investment Board acquired the department store for $6 billion.

The stock would be listed under the symbol NMG.