After nearly 120 years, Neiman Marcus is closing its flagship location in Downtown Dallas
DALLAS – Department store chain Neiman Marcus is closing its flagship location in Downtown Dallas after nearly 120 years, a spokesperson confirmed Tuesday to CBS News Texas.
Located on Main Street, the store has also served as the brand's iconic headquarters since 1907. Doors will close on March 31.
The retailer received a notice from its landlord to terminate its occupancy, forcing to close the iconic Downtown Dallas location, according to a spokesperson with Saks Fifth Avenue, the parent company of Neiman Marcus.
The spokesperson said the company is disappointed to lose a piece of Neiman Marcus history.
Those employees impacted by the closure will be offered transfer opportunities, the company said. Others who are eligible will be offered separation packages.
A Neiman Marcus location remains at Dallas' NorthPark Mall. The spokesperson said there are plans for a $100 million renovation at this location.
"Dallas is an important market for us, and we remain highly committed to upholding Neiman Marcus' legacy there. We see a long-term opportunity to invest in our Dallas shopping experience, and look forward to serving customers at our other locations," the spokesperson said.
In July 2024, Saks parent company, Hudson's Bay Company, announced it was acquiring Neiman Marcus for $2.65 billion.
On Monday, Saks Fifth Avenue announced it made a decision to consolidate corporate office space, having one corporate headquarters in New York.
"With that, we will be closing the former-NMG Corporate Hubs New York and Dallas," a Saks spokesperson said. "While the Hub concept was not designed for consistent office use, average site usage for Dallas-based associates was only 11 days per year, or about 4%. We recognize the role Neiman Marcus plays in Dallas and we remain highly committed to serving our customers and to ensuring Neiman Marcus' legacy there."
The first Neiman Marcus store opened in Dallas in 1907
Herbert Marcus Sr., his sister, Carrie Marcus Neiman, and her husband A.L. Neiman opened the retailer's first store in Dallas, Texas, in 1907.
The company was sold to department store operator Broadway-Hale in 1969, setting the stage for it to expand beyond Texas.
Later, Neiman Marcus came under the ownership of the conglomerate Harcourt General, which also published textbooks and owned movie theaters.
