Wednesday, March 13, 2013

Neiman Marcus Permanently Exited EBay After It Failed To Meet The Retailer's Expectations.

Neiman Marcus Permanently Exited EBay After Failing To Meet The Retailer's Expectations. - Upscale retailer Neiman Marcus has permanently exited eBay (EBAY) after it failed to meet the retailer's expectations. Neiman Marcus was among the first "Fashion Outlets" eBay launched in the U.S. in 2011, selling clothing shoes and accessories under its off-price brand, Last Call By Neiman Marcus. Ginger Reeder, Vice President of Corporate Communications for Neiman Marcus Group Services, said the closure of the Last Call By Neiman Marcus eBay store was permanent. The last orders were taken from customers on January 7, 2013.

 "We are always trying new partnerships and this is one where we felt we learned a great deal, but it did not meet all our expectations," Reeder told me. "We parted on good terms with eBay, but we will not be reopening in the future." In addition to its flagship stores, the retailer operates 33 Neiman Marcus Last Call stores that average approximately 28,000 square feet each in size, according to its annual shareholder report. The Last Call brick-and-mortar stores offer off-price goods purchased directly for resale as well as end-of-season clearance goods from the Neiman Marcus stores, Bergdorf Goodman stores and online operations.

The Last Call stores, along with six stores operated under the CUSP name that targets younger customers, generate less than 10% of the retailer's total revenues. The retailer's online sales made up 20.2% of Neiman Marcus' total revenues in fiscal year 2012, 18.9% in fiscal year 2011 and 18.5% in fiscal year 2010. It launched a website under the Neiman Marcus Last Call brand in 2011.

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