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Monday, June 15, 2009

Dallas-based Neiman Marcus to start selling lower-priced shtuff

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After experiencing a decline of 24% in sales, Dallas-based Neiman Marcus says it will start selling lower-priced goods. The store's management is sensing a shift in its customer's "mindset." The place won't become a cheapskate palace overnight, but meanwhile they'll be doing lots of promotions to boost sales.

Posted by T.G.


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Laura Evans Staff

oh boo, does this mean I can't call it needless markups anymore?

4 months, 3 weeks ago ( Link to this comment | Suggest removal )

Sarah Blaskovich Staff

Nope, I think that's definitely still fair game.

4 months, 3 weeks ago ( Link to this comment | Suggest removal )

alexander troup Verified

An old New York saying on Broadway and with any fine clothing store's..."If you had a fire and it is over with .....get what you can for a buck so you can have a bed to sleep on"....A/T..Sometime's it hard and ruff for a reason...save a buck and help someone else....

4 months, 3 weeks ago ( Link to this comment | Suggest removal )

CitizenKane Anonymous

Now if we can only get Barney's to go back to it's successful roots - selling only men's clothes at reasonable prices.

4 months, 3 weeks ago ( Link to this comment | Suggest removal )

Travis Bush Verified

What no more $100k motorcycles in the Christmas catalog? Maybe the mindset has shifted to zirconia encrusted Harleys..

4 months, 3 weeks ago ( Link to this comment | Suggest removal )

Rawlins Gilliland Verified

NM has always been an easy target and in this century, arguably deserved. But for the rare few who are actually from Dallas, and old enough to know the role Neiman Marcus played in key eras of this city's history past, I wish to say: Neiman Marcus never set out to be the elitist 'let them eat cake' object of ridicule. Rather, the Neiman and Marcus families 101 years ago set out to represent the finest in quality, style and value and service. In doing so, in the second half of last century, NM pioneered racial relations with advancements for minorities and support for civil rights issues. They advanced women in ways previously unthinkable. Their current CEO and President, Karen Katz being a Dallas native exhibit A; my boss for 6 years where I learned more than all the men I ever worked for combined..........

NM was never meant to be so 'exclusive' that it excluded everyone but the wealthiest. Rather, if you read any of Stanley Marcus' books, he speaks of the value of detail, etc. I have always suspected that when I see people pile on Neiman Marcus with knee-jerk glee contempt, they are telling more about themselves than about the Dallas-born-and-bred retailer. I do however believe that after I left the company 10 years ago, NM Group CEO Burt Tansky led the company in a direction that left no room for moderate customers to find and afford the value and quality and style of Neiman Marcus goods. By recommitting themselves to that original goal, it is not a reversal for the company so much as it is a homecoming. A 'no exit' policy of catering to solely the top 1-3% of the nation's income earners is anathema to those who grew up aware of what NM stood for historically; something to aspire to, where all were welcome. Where simply being there was an education.

4 months, 3 weeks ago ( Link to this comment | Suggest removal )

Travis Bush Verified

"I have always suspected that when I see people pile on Neiman Marcus with knee-jerk glee contempt, they are telling more about themselves than about the Dallas-born-and-bred retailer."

Sorry, but as a born-and-bred Dallasite, I have to take exception to this. NM hasn't been a place for regular folks to shop since I was born, at least. It isn't now and will never be a place for the common Dallas citizen to frequent. The closest thing most of us ever got was passing by the windows on our way to H.L. Green's. And I'll pass on the "education" in avarice, thank you very much.

4 months, 3 weeks ago ( Link to this comment | Suggest removal )

Rawlins Gilliland Verified

Well Travis, 'regular folks' is a very subjective term. I bought my high school graduation outfit there and I grew up in a very modest East Dallas neighborhood (that is now unaffordable...Manett Street off of Henderson.) I paid for the outfit as a bag boy at the Kroger's Groceries and as a paper boy. The outfit was reasonable for its value (along the lines of what I would have paid at let's say a Culwell and Sons) and lasted for years and years. I was very proud of it. I still use the belt 40 years later. On a thin day.

It is not an otherwise pointed point that I make when I share how no few who have expressed to me... before and after my stint at NM...their being less than comfortable with Neiman Marcus in the 60s-90s... many times acknowledged they never really had been there. I learned that over and over again when in fact I rose from stock boy in college and later through the sales ranks in tyhe Reagan years to become national Director of Sales and Product in the Clinton years. It always made me feel rather sad, knowing how Stanley Marcus had always felt and what his company offered me as my second career.

But during the Bush years I believe with good reason it strayed. I know I grew to feel as if it was no longer a company that offered items I could routinely consider. Where there had been private label ties that were affordable, for instance, there became only the most exclusive. And expensive. In fairness part of the problem became the devaluation of the dollar which made an import $175 shirt now cost $300 plus. But that was merely part of what went wrong.

4 months, 3 weeks ago ( Link to this comment | Suggest removal )

Travis Bush Verified

Interesting history you have there, Rawlins.

4 months, 3 weeks ago ( Link to this comment | Suggest removal )

CitizenKane Anonymous

Bush Derangement......

Linking the extravagance of NM to the "Bush Years"....

Stanley Marcus would puke over such silliness and nievete'.

4 months, 3 weeks ago ( Link to this comment | Suggest removal )

Pavel Lishin Verified

I think that when most people mock NM, they're mocking the people who shop there more so than the actual company itself.

4 months, 3 weeks ago ( Link to this comment | Suggest removal )

Scott Doyle Verified

Customers make the company, Pavel - can't exactly have one without the other.

4 months, 3 weeks ago ( Link to this comment | Suggest removal )

Travis Bush Verified

I've seen the future of Neiman's!

4 months, 3 weeks ago ( Link to this comment | Suggest removal )

jonaspark Anonymous

Neiman Marcus has been doing a superb job being a style leader, and obviously is not for everybody. Don't forget the last call; you can find some amazing things at a very reasonable price :)

4 months, 3 weeks ago ( Link to this comment | Suggest removal )

Travis Bush Verified

You mean, obviously not everyone can afford it..I'm sure there are plenty of people who would love to wear their clothing lines or have their own submarine.

4 months, 3 weeks ago ( Link to this comment | Suggest removal )

Scott Miller Verified

I once had a girlfriend who asked me to go get her coat, a real nice one she wore a lot. When I spotted the Neiman Marcus label inside I ragged her about it a little.

She said, "Oh please, I got it at a yard sale."

4 months, 3 weeks ago ( Link to this comment | Suggest removal )

Rick Yost Verified

No one really rags Ferrari, Rolex, or Lear Jet. There's not a thing wrong with offering expensive items. If you can't afford them, don't buy them. The funny thing is that even folks that can't afford them feel socially pressed to own these things. We're a society greatly driven by appearances.
If people would stop gawking at stretch-limos, they'd disappear.

4 months, 3 weeks ago ( Link to this comment | Suggest removal )

Travis Bush Verified

I have no problem with your view, Rick, but just like I have said before..as long as there is no pretense about the pretense, I don't care. But when there are stories about overpriced restaurants and businesses closing, I don't feel sorry one bit. It is equally funny when I hear stories about the management at Neiman's sensing a shift in its customer's "mindset." That really means that their regular customers are running out of money, and or their lifestyles are catching up with them. No pity from the proletariat..

4 months, 3 weeks ago ( Link to this comment | Suggest removal )

Jesus Valadez Verified

Mmmm.... I wouldn't mind a nice expensive watch right about now. :(

4 months, 3 weeks ago ( Link to this comment | Suggest removal )

Travis Bush Verified

Jesus..while yer out stealin' watches and stuff can you pick me up a Citizen Eco-Drive?

4 months, 3 weeks ago ( Link to this comment | Suggest removal )

Rick Yost Verified

Travis- I agree. No pity, please! If you spend money you don't have, and have problems because of it...it's your life. Overpriced restaurants going out of business...that's their choice.
You are responsible for your own choices. Of course GM and AIG would grin at that last sentence. And my $40 Timex works quite well.

4 months, 3 weeks ago ( Link to this comment | Suggest removal )

Jason Rice Verified

::If people would stop gawking at stretch-limos, they'd disappear.

Yost for Prez.

4 months, 3 weeks ago ( Link to this comment | Suggest removal )

Jesus Valadez Verified

Do you want my Citizen Eco Drive? I love this watch

4 months, 3 weeks ago ( Link to this comment | Suggest removal )

Jason Rice Verified

::I love this watch

Kinda depends on how saliva resistant that model is.

4 months, 3 weeks ago ( Link to this comment | Suggest removal )

Travis Bush Verified

Yes..I would beat up Jesus and take his watch.

4 months, 3 weeks ago ( Link to this comment | Suggest removal )

Jesus Valadez Verified

I'll make note whenever I stop by one of your art things. I'll tell my girlfriend to bring her ghetto side out.

4 months, 3 weeks ago ( Link to this comment | Suggest removal )

Travis Bush Verified

I'll see your ghetto chick and raise you one from El Paso..

4 months, 3 weeks ago ( Link to this comment | Suggest removal )

Jesus Valadez Verified

But mine comes from Oak Cliff. :(

And I love that Atlanta vidoe. Poor old lady though. :(

4 months, 3 weeks ago ( Link to this comment | Suggest removal )

ch0 Anonymous

Watch is dead.

4 months, 3 weeks ago ( Link to this comment | Suggest removal )

Travis Bush Verified

Doyle..that chick would have been beat down a LOOOONG time ago..LOLZ!

Jesus..if she needs lessons, mi ruca can do it for the small price of one Citizen Eco-Drive...one easy payment!

cho, while you're out burning stuff, can you pick me up some of that Neiman's Prada? Preciate ya!

4 months, 3 weeks ago ( Link to this comment | Suggest removal )

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