Neiman Marcus is beginning to show the “financial flexibility” it gained from a difficult bankruptcy filing last year.
The luxury retailer said Wednesday that it will spend $85 million on systems and fulfillment centers, including an investment in its Pinnacle Park distribution center in Dallas, to strengthen its online business.
At the same time, the Dallas-based retailer hired two new executives and said it plans to remodel six stores in the next 18 months.
CEO Geoffroy van Raemdonck said the moves accelerate the company’s “transformation reflecting our renewed financial flexibility and desire to invest in areas that are a source of unique competitive advantage and create shareholder value.”
Bob Kupbens, whose background includes Apple, eBay, Delta and ADT, becomes executive vice president and chief product and technology officer. The company said Kupbens will