Niemann Marcus Chief Financial Officer Donald Proposes Leave Application

U.S.A

Department store retailer Neiman Marcus Group Niemann Marcus group executive vice president, chief operating officer and chief financial officer Donald T. Grimes suddenly filed a leave of absence application.

The group said its departure was not due to a disagreement with the company about its philosophy and methods of operation, but no details were given.

Donald T. Grimes joined Niemann group as executive vice president, chief operating officer and chief financial officer in June 2015.

Group Wolverine World Wide, US buyer Keystone Automotive Operations, alcohol manufacturer Brown-Forman Corp., and accounting firm Coopers & Lybrand.

Niemann group's store sales fell for the third quarter, and nearly 81% profit declines indicate that consumer clothing consumption is slowing down, as online shopping is becoming more and more popular.

Retailers are becoming more and more difficult to attract more customers.

Crude oil prices have been in a low position for a long time. For the headquarters in "oil state" Dezhou, and the proportion of local businesses and the long-term debt burden, group shareholders Ares Management and Canadian investment company Pension Plan Investment are interested in selling the group.

According to sources, the US investment company Husdon 's Bay will buy the group, but it has not reached any agreement, and potential buyers have been closing the offer.

For the fiscal year, the Niemann report pointed out a net loss of $461 million, and the adjusted pre tax profit dropped from $710 million 600 thousand last year to $584 million 900 thousand. Total revenue decreased by 2.9% to 4 billion 950 million US dollars compared with 5 billion 100 million US dollars in the same period last year, while the same store revenue decreased by 4.1%.