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  • 12.14.16

Neiman Marcus lost over $30M in sales because of a new merchandizing system

For the last quarter, the company recorded a loss of $23.5 million, which is more than double the $10.5 million loss a year earlier. Part of this loss is attributed to the botched implementation of a new merchandizing system.

But more broadly, the department store has been on a downward spiral for some time. It has been struggling for several reasons: The strong dollar has discouraged tourists from shopping, there has been a loss of foot traffic in stores across the fashion industry, and the new retail environment has been challenging since once-loyal customers now go online for better deals. 

Read more in the Wall Street Journal (paywall).ES