Retailer Neiman Marcus has decided it is no longer considering selling itself.
“While looking ahead, we know challenges remain, but we are encouraged by the strategies we have in place to improve our operational efficiencies and financial performance,” Neiman Marcus CEO and president Karen Katz said in a post-quarter results conference call.
The Wall Street Journal reported Saks Fifth Avenue owner Hudson’s Bay Co approached Neiman Marcus’s private-equity firm owners about buying the company, but that talks had stalled earlier this week.
Katz told the Journal that Neiman Marcus is looking to continue investing in e-commerce and determine how to improve online service.
The company holds $6 million is debt and began looking for “strategic alternatives” back in March.
Neiman Marcus only has 42 stores in addition to Bergdorf Goodman, USA Today reported.