Neiman Marcus looks at putting itself on sale

By David Koenig
Associated Press

DALLAS — Capitalizing on a white-hot luxury market, Neiman Marcus — the department-store retailer whose name is synonymous with status shopping — said yesterday it may put itself up for sale.

The Neiman Marcus Group Inc. said that it is "exploring various strategic alternatives to enhance shareholder value," including selling itself, but that it might end up doing nothing.

Officials at Neiman Marcus said they hired Goldman Sachs & Co. as a financial adviser on a possible sale, but they declined to comment further.

Analysts said potential buyers for Neiman's could include European luxury goods makers such as LVMH Moet Hennessy Louis Vuitton SA, North American private-equity firms or Asian investors.

The Neiman's announcement comes as deal-making mania appears to be taking hold in the retail sector.

Federated Department Stores Inc. has agreed to buy May Department Stores Co., and Saks Inc. may sell or spin off its middle-market department store division in order to concentrate on its luxury unit, Saks Fifth Avenue.

Neiman Marcus Group operates 35 Neiman Marcus stores. Its sole Hawai'i store is in Ala Moana Center.