Bergdorf head Joshua Schulman to step down in May
Joshua Schulman, head of Bergdorf Goodman and NMG International, is stepping down from his role on May 10 after serving five years at the company. The announcement comes at a crucial time for parent company Neiman Marcus that is currently embroiled in sales woes and is in talks for a sale.
Schulman joined Neiman Marcus in 2012 to oversee Bergdorf Goodman, and in 2014 he took over NMG International subsidiaries, which includes Mytheresa.com. During his tenure as President, the Fifth Avenue luxury retail fixture began its five-year BG 20/20 expansion that included the introduction of the Modernist floor, the expansion of the women’s store and renovations to the jewelry salon.
Prior to joining Neiman Marcus, Schulman served as CEO of Jimmy Choo from 2007 to 2012, and he held executive roles at Gap, Yves Saint Laurent, Gucci, Kenneth Cole and Perry Ellis.
Neiman Marcus has not seen its best quarterly performances as of late. The company reported sales declines for six quarters and its debt as of October 2016 reached about $4.9 billion. The luxury retailer also pulled its IPO to start 2017 and hired investment bank Lazard Ltd as an advisor for debt restructuring.
In addition, Neiman Marcus is considering a possible sale and is reportedly in talks with Saks owner Hudson’s Bay Company for a possible acquisition.
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