Archived Niemann Marcus

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mrknownothing said:
Two bikes were returned at my store and my ETL-HL is pissed.
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We only got one bike, and it has not been sold. I'm surprised we haven't had another one or two returned to the store....I can see why the ETL isn't happy....especially if you now have more than you started with!
 
mxrbook said:
ALL of it's going to be destroyed. We got notice that NM will not be salvaged.
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This makes me sick. Better for it to go to the dump than for it to be used by someone who can't pay the prices that match the designers' over-inflated egos? I guess that's a reason I'm not a designer... I would donate unsold merchandise in a heartbeat, or charge slightly higher prices and donate a reasonable percentage of revenue to help those in need...

This world needs a little more empathy and compassion.
 
mxrbook said:
ALL of it's going to be destroyed. We got notice that NM will not be salvaged.
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Wow, just wow. I can only imagine how much this "partnership" ended up costing the company as a whole. Granted, when I looked up some of the item costs in ITA the other day there seems to be enough room to at least break even on the apparel, even at 50% off, but when you factor in all the other costs of advertising and productivity (of continuously moving/setting it up around the store) they've gotta be losing a boat-load.

Once again, though, I gotta ask, what did they expect? I can't figure out if they're just so out of touch with their own business at this point or if there was some other aspect to the Neimann Marcus relationship that made it worth it. I can't imagine it was really as simple as the buyers/shotcallers thinking this was going to be a massive one-day sales sellout hit.
 
I think the orinigal location hurt, the quantity limit hurt- mostly "resellers" showed up in day one. The huge amount of product out hurt combined with the fact that most people see that much out and think "I'll wait till it hits clearance."
The fact that nothing was exclusive to Target hurt as well...Neiman's was offering better online options too :/
I'm sad because there was alot of effort put forward, and I wish there was something extraordinary we could do with the product to at least turn the mood around. Some charity could benefit if it was handled well :)
 
Retail Girl said:
We only got one bike, and it has not been sold. I'm surprised we haven't had another one or two returned to the store....I can see why the ETL isn't happy....especially if you now have more than you started with!
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I think they were ones that we sold in the first place. But my ETL said that we would've made sales had the [insert plural profanity here] not returned them.
 
PullMeBackIn said:
Wow, just wow. I can only imagine how much this "partnership" ended up costing the company as a whole. Granted, when I looked up some of the item costs in ITA the other day there seems to be enough room to at least break even on the apparel, even at 50% off, but when you factor in all the other costs of advertising and productivity (of continuously moving/setting it up around the store) they've gotta be losing a boat-load.

Once again, though, I gotta ask, what did they expect? I can't figure out if they're just so out of touch with their own business at this point or if there was some other aspect to the Neimann Marcus relationship that made it worth it. I can't imagine it was really as simple as the buyers/shotcallers thinking this was going to be a massive one-day sales sellout hit.
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Someone else knows what ITA is!!! :spiteful:
 
We still have enough of this stuff to set up the full shop from opening day. And BS on it not being a one-day event, I saw the remerch direction in the packet. They were anticipating only having 3 racks by the end of the day. Flop.
 
I think it's multiplying... The suitcases seem to have doubled.

That lace dress I said I liked... none of the zippers work. So that probably doesn't help. I thought the one I tried on was just a bad one, but all the reviews on target.com say the zipper sucks.
 
Hardlinesmaster said:
I wonder if spot wanted to buy NM? Just testing the waters on this event..
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I think they are pretty much cash strapped after the P-fresh remodels and Canada. I would expect no payroll will the order of the day for sometime while they build up some cash.
 
my ETL said...it was a bust and the clearance will start sometime this week...not next week. We will be so happy to have endcaps and girls back to normal(ish)
 
RedDog said:
I think they are pretty much cash strapped after the P-fresh remodels and Canada. I would expect no payroll will the order of the day for sometime while they build up some cash.
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P-Fresh remodels, Canada, Missoni, The Shops, Niemann Marcus.....yeah...payroll is gonna suck. A lot. You would think they would look at our purchasing department and go "Hey. You guys suck. Wtf are you doing?"
 
greatteam said:
P-Fresh remodels, Canada, Missoni, The Shops, Niemann Marcus.....yeah...payroll is gonna suck. A lot. You would think they would look at our purchasing department and go "Hey. You guys suck. Wtf are you doing?"
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Oh man, I had forgotten about The Shops (a twice-over failure at that).

Here's Target's cash flow sheet from Forbes over the last 4 years

http://finapps.forbes.com/finapps/jsp/finance/compinfo/CashFlows.jsp?tkr=TGT&period=qtr

They've got a little over $1 billion on hand right now compared to $749 million at the beginning of the year. They are certainly trending in a little bit better position than Best Buy currently (http://finapps.forbes.com/finapps/jsp/finance/compinfo/CashFlows.jsp?tkr=BBY&period=qtr) but this quarter's results are going to be interesting. I can't speak for everyone else's stores but today alone we were down about $70,000 on a goal of about $350,000 and yesterday we pretty much just hit sales. If other stores are doing that poorly compared with some other gaffes like Neimann Marcus, they're gonna have to get a little bit more conservative in terms of spending.
 
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