The last time I was in the Zodiac Room (a few weeks ago, for a Dallas Summer Musicals mixer), the space felt like a shadow of its former self — stuffy, stale, over-worn, and dressed up in a color palette of another era. Despite its oft-cited role as the anchor tenant of a glitzing-up stretch of Main Street, compared to the new Forty Five Ten and the Joule complex, the downtown Neiman Marcus’ flagship feels in need of a freshen up.
Today, the company announced that it is looking for just that. Neiman’s, which has been bought and sold many, many times since the Marcus family parted with the iconic brand in the late 1960s is up for sale once again. CEO Karen Katz said shifting buying habits (not news) and operational struggles have left the company with lower sales and other issues:
During a conference call this morning, CEO Karen Katz said while Neiman Marcus remains at the forefront of luxury shopping, people are shopping less. She also said Texas stores, which had been lagging behind with lower oil prices, are doing better.
Ongoing problems with new systems, which included inventory tracking, resulted in some sales losses in the last six months, she said. Problems kept inventory from going to the right stores and miscounted items. That lack of transparency caused problems with its ability to pay vendors in a timely manner, Katz said.
The rumor is that Hudson’s Bay Co. a Canadian company which purchased Saks Fifth Avenue in 2013, is talking with Neiman’s about a potential purchase. If that goes through, hopefully they’ll give the Zodiac room, as well as Dallas’ most famous brand, some love.
