There are rumors floating around that Neiman Marcus may not reopen its New York store in Hudson Yards.
It’s being widely reported that the Dallas-based retailer’s three-level, 188,000-square-foot store is being shopped around by the landlord, Related Cos. The latest report says that Facebook is considering taking over Neiman Marcus’ space at Hudson Yards, according to a report quoting an unnamed source in Women’s Wear Daily.
The retailer responded Monday with a statement that basically says its bankruptcy filing on May 7 was not about having too many stores, it was about having too much debt. But it also didn’t quash the rumors, probably because lease negotiations are underway.
“Our restructuring plan is focused on alleviating our debt load. We are confident in the performance of our overall store footprint,” Neiman Marcus said in an emailed statement. “That said, we always assess our stores based on our footprint to ensure it is optimal to enhance revenues and overall profitability, as well as how each store can best support our omnichannel strategy.”
Neiman Marcus repeated Monday its statement that before the coronavirus pandemic shut it down, all of its 43 stores that had been open for a year, which would include Hudson Yards, were generating positive earnings before interest, taxes and other items.
Neiman Marcus has been using its New York store to fill online and curbside pickup orders, but there’s no date yet for when it will reopen, a spokesman said. The store opened in March 2019 in the $25 billion Hudson Yards, a 28-acre neighborhood built over a working train yard. Facebook already has 1.5 million square feet of space leased in the development.
Hudson Yards hasn’t reopened yet. Retailers in New York are just being allowed to open this week with limited capacity.
Neiman Marcus said that discussions with its landlord are confidential.
Most of the retailer’s stores, “more than 90%,” are open to some degree, with either curbside pickup, private appointment, full shopping or a combination of those.
“All of our stores are scheduled to reopen in the coming weeks as local and state mandates allow and as we feel it is safe to do so,” the Neiman Marcus statement said.
