Neiman Marcus Delays IPO

Luxury retailer Neiman Marcus Group Inc. has delayed its planned initial public offering until the beginning of next year at the earliest following the recent bout of stock-market volatility.

Neiman had filed for a U.S. listing in early August and been considering a debut ahead of the conclusion of the 2015 holiday shopping season, people familiar with the matter said. But recent market declines and a slump in stocks of other luxury-goods purveyors have prompted the company to wait, they said.

Neiman hadn't yet set a price range for the offering. The delay was earlier reported by Reuters.

The retailer is backed by private-equity firm Ares Management LP and Canada Pension Plan Investment Board. It was one of several large, highly indebted and private-equity-owned companies looking to go public this quarter.

The outcome of those plans was expected to provide signs of the health of an IPO market that has suffered this year. But the picture is mixed as shares of First Data Corp. and Albertsons Companies Inc., other members of the group, are scheduled to begin trading this week.

The U.S. IPO market has struggled this year after a strong 2014, due in part to weakness in the broader stock market since August. U.S. listings had raised just $30 billion through the beginning of the week, versus $81 billion by that point last year, according to Dealogic.

Write to Telis Demos at [e-mail] and Dana Cimilluca at [e-mail]

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(END) Dow Jones Newswires

October 13, 2015 21:15 ET (01:15 GMT)

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