Luxury retailer Neiman Marcus Inc. has met the established requirements in preparation for the initial public offering of shares (IPO) for a total of $ 100 million, reports Rapaport. The number of shares issued and their price range have not yet been determined.
TPG and Warburg acquired Neiman Marcus in early October 2005 for $ 5.1 billion, after which the retailer of luxury goods became a private company. The shares of Neiman Marcus within the framework of this offering will be offered for purchase by companies affiliated with Newton Holding LLC, TPG and Warburg Pincus.
Neiman Marcus does not publish sales results on a monthly basis, but it is known that by the end of the quarter that ended on April 27, the company's revenue grew by 3.7% on a year-on-year basis to $ 1.1 billion, while sales in comparable stores increased by 3 , 6%.
Operating income of Neiman grew by 2.5% to $ 150.3 million, while profit grew by 13% to $ 70.8 million.