Though its website has been down for a week, Christie’s proceeded with its jewelry and watch auctions on May 13-14, bringing in nearly $80 million.
Neiman Marcus Withdraws Long-Delayed IPO
The retailer pulled the initial public offer filing it made in August 2015, stating that it is “not in its best interests to proceed” at this time.
Dallas--Luxury retailer Neiman Marcus has requested to withdraw its initial public offering from the U.S. Securities and Exchange Commission.
In a statement released Friday, the company said it has determined that it is “not in its best interests to proceed with the initial public offering” at this time.
Initially filed in August 2015, the IPO was delayed two months later until 2016 amid stock market volatility.
Neiman Marcus also has been struggling with sales, recording its fifth consecutive quarter of decline in December when it reported its fiscal first quarter results. Comps fell 8 percent year-over-year and revenue was down from $1.16 billion to $1.08 billion.
Ares Management LLC and Canada Pension Plan Investment Board acquired Neiman Marcus in October 2013 from private equity firms TPG and Warburg Pincus for $6 billion.
The Latest
Despite the absence of “The Allnatt,” Sotheby’s Geneva jewelry auction totaled $34 million, with 90 percent of lots sold.
Lilian Raji gives advice to designers on how to make the most of great publicity opportunities.
Despite the rising prices, consumers continue to seek out the precious metal.
The mining company wants to divest its 70 percent holding in the Mothae Diamond Mine in an effort to streamline its portfolio.
Why do so many jewelers keep lines that are not selling? Peter Smith thinks the answer lies in these two behavioral principles.
The “Argyle Phoenix” sold for more than $4 million at the auction house’s second jewels sale.
Tradeshow risks are real. Get tips to protect yourself before, during and after and gain safety and security awareness for your business.
The annual list recognizes young professionals making an impact in jewelry retail.
Owner David Mann is heading into retirement.
While overall sales were sluggish, the retailer said its non-bridal fine jewelry was a popular choice for Valentine’s Day.
The mining giant also wants to offload its platinum business as part of an overhaul designed to “unlock significant value.”
Christie's is selling one of the diamonds, moving forward with its Geneva jewelry auction despite the cyberattack that took down its website.
Retailers can customize and print the appraisal brochures from their store.
The move follows a price-drop test run in Q4 and comes with the addition of a “quality assurance card” from GIA for some loose diamonds.
The site has been down since Thursday evening, just ahead of its spring auctions.
The late former U.S. Secretary’s collection went for quadruple the sale’s pre-sale estimate.
Three fifth graders’ winning designs were turned into custom jewelry pieces in time for Mother’s Day.
Kimberly Adams Russell is taking over the role from her father, David Adams, marking the third generation to hold the title.
As a token of womanhood, this necklace depicts when Venus was born from the sea.
Show your mother some love with a piece of fine jewelry.
The company’s Easton location will remain open.
Brian D. Fleming of Carla Corporation was elected to serve a one-year term in the role.
Sponsored by the Las Vegas Antique Jewelry and Watch Show
Tobak, author of “Ice Cold: A Hip-Hop Jewelry History,” shares how the exhibition came to be, and the pieces people may be surprised to see.
Stars adorned themselves in emeralds, platinum, and myriad bird motifs, writes Associate Editor Natalie Francisco.
M.S. Rau is set to open a seasonal gallery in the high-end resort town early next month.