News

No Messing Around With Neiman Marcus

BY CSA STAFF

Dallas, As loyal customers breathed a collective sigh of relief, new owners of the Neiman Marcus Group announced that they would not “mess with” a good thing.

Private equity firms Texas Pacific Group of Fort Worth and New York-based Warburg Pincus purchased the company for $5.1 billion last May. Their announcement this morning returns Neiman Marcus to a privately held company.

The new owners get 35 namesake stores, two Bergdorf Goodman locations in New York, 14 clearance centers and the internet and catalog operations. President and CEO Burt Tansky will remain in place and has signed a new five-year contract.

Although Neiman’s was purchased by a newly created entity, Newton Acquisition Merger Sub, Inc., and its parent Newton Acquisition, Inc., that entity will go away and Neiman Marcus Group, Inc., will be the surviving corporate name.

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ECOMMERCE

TJX Gets Out of the Web Business

BY CSA STAFF

Framingham, Mass., The Internet may be the retail channel of the future for some companies, but not TJX Cos. Framingham, Mass.-based TJX announced yesterday that it intends to exit its e-commerce business, which “has not delivered the sales we had planned,” said chairman Bernard Cammarata. The company’s TJMaxx.com and homegoods.com sites will cease business this month, under the plan. “Exiting this business will eliminate these losses going forward and allow us to better focus our energies into other areas,” he added. Its on-line business is expected to result in operating losses of $15 million for the current fiscal year. The chain also said it would slow its real estate expansion at A.J. Wright and HomeGoods.

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J.Ronald says:
Apr-19-2013 01:22 pm

Its great!
Our company has managed its reputation and is trying every day to remain on top of web broad variety business's record by offering our customers authentic views off all other organizations having web extensive broad range assistance.Omnis Hosting Reviews | Dedicated Server Hosting.

J.Ronald says:
Apr-19-2013 01:22 pm

Our company has managed its reputation and is trying every day to remain on top of web broad variety business's record by offering our customers authentic views off all other organizations having web extensive broad range assistance.Omnis Hosting Reviews | Dedicated Server Hosting.

E.Ako says:
Mar-24-2013 07:34 am

Web business makes a work
Web business makes a work more effective and efficient between suppliers and the company. They can serve the customers better to their needs and wants. - Rich Von Alvensleben

E.Ako says:
Mar-24-2013 07:34 am

Web business makes a work more effective and efficient between suppliers and the company. They can serve the customers better to their needs and wants. - Rich Von Alvensleben

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News

Goody’s Agrees to Acquisition

BY CSA STAFF

Knoxville, Tenn., Boca Raton, Fla.-based Sun Capital Partners will acquire the Knoxville, Tenn.-based apparel chain in a deal valued at $272.8 million. A Goody’s spokeswoman said it was clear that CEO and chairman Robert Goodfriend will leave the company, but unclear whether the remaining executive team would continue. The chain originated in Athens, Tenn., as the Athens Outlet Center. Also on Thursday, the company said it expected a third-quarter loss “significantly greater” than the 2? per share loss reported in the third quarter of 2004.

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