Joshua Schulman to Join Bergdorf Goodman as President

DALLAS, April 11, 2012 /PRNewswire/ -- Karen Katz, President and Chief Executive Officer of The Neiman Marcus Group, Inc., announced today that Joshua Schulman will be joining the company as President of Bergdorf Goodman on May 7, 2012.  Mr. Schulman will report directly to Jim Gold, President Specialty Retail, The Neiman Marcus Group.

"Bergdorf Goodman is the pinnacle of luxury retailing, and is known world-wide for its signature style and modern sophistication," said Karen Katz. "Joshua's unique experience blends keen business acumen with creativity and vision. He appreciates the legacy of Bergdorf Goodman but understands brands have to be continually defined and re-defined. From merchandising to marketing to sales and service, he is exceptional in his ability to bring an idea and an ideal to life. He is the perfect leader for Bergdorf Goodman."

Mr. Schulman, 40, joins Neiman Marcus from Jimmy Choo where he was Chief Executive Officer.  In this role, Mr. Schulman oversaw the international expansion of the brand and the growth of jimmychoo.com.  Prior to Jimmy Choo, Mr. Schulman was President, Kenneth Cole New York, and Managing Director, International Strategic Alliances, Gap, Inc. During his eight-year affiliation with the Gucci Group, he served as Executive Vice President, Worldwide Merchandising and Wholesale, Yves Saint Laurent, as well as Worldwide Director, Women's Ready-to-Wear, Gucci.

"I am thrilled that Joshua will be joining us as President of Bergdorf Goodman," said Jim Gold. "His deep product knowledge and passion for the customer experience makes him the perfect individual to craft the next chapter at Bergdorf Goodman. I have every confidence that Joshua will make a lasting mark on this great institution."

"I am tremendously honored to join Bergdorf Goodman, the ultimate luxury specialty retailer," said Joshua Schulman. "I look forward to working with the talented teams at Bergdorf Goodman and the Neiman Marcus Group to enhance this world class brand, build the business and consistently exceed the expectations of the sophisticated clients who treasure the store."

The Neiman Marcus Group, Inc. operations include the Specialty Retail Stores segment and the Direct Marketing segment. The Specialty Retail Stores segment consists primarily of Neiman Marcus and Bergdorf Goodman stores. The Direct Marketing segment conducts both print catalog and online operations under the Neiman Marcus, Horchow and Bergdorf Goodman brand names. Information about the Company can be accessed at www.NeimanMarcusGroup.com

From time to time, the Company may make statements that predict or forecast future events or results, depend on future events for their accuracy or otherwise contain "forward-looking information."  These statements are made based on management's expectations and beliefs concerning future events and are not guarantees of future performance.

The Company cautions readers that actual results may differ materially as a result of various factors, some of which are beyond its control, including but not limited to: political or economic conditions; terrorist activities in the United States and elsewhere; disruptions in business at the Company's stores, distribution centers or offices; changes in consumer confidence resulting in a reduction of discretionary spending on goods; changes in demographic or retail environments; changes in consumer preferences or fashion trends; competitive responses to the Company's marketing, merchandising and promotional efforts; changes in the Company's relationships with key customers; delays in the receipt of merchandise; seasonality of the retail business; adverse weather conditions, particularly during peak selling seasons; delays in anticipated store openings or renovations; natural disasters; significant increases in paper, printing and postage costs; litigation that may have an adverse effect on the Company's financial results or reputation; changes in the Company's relationships with designers, vendors and other sources of merchandise; the Company's success in enforcing its intellectual property rights; the effects of incurring a substantial amount of indebtedness under the Company's senior secured credit facilities, senior notes and senior subordinated notes and of complying with the related covenants and conditions; the financial viability of the Company's designers, vendors and other sources of merchandise; the design and implementation of new information systems or enhancement of existing systems; changes in foreign currency exchange rates or inflation rates; impact of funding requirements related to the Company's noncontributory defined benefit pension plan; changes in the Company's relationships with certain of key sales associates; changes in key management personnel; changes in the Company's proprietary credit card arrangement that adversely impact its ability to provide consumer credit; or changes in government or regulatory requirements increasing the Company's cost of operations.

These and other factors that may adversely effect the Company's future performance or financial condition are contained in its Annual Report in Form 10-K and other reports filed with and available from the Securities and Exchange Commission.  The Company undertakes no obligation to update or revise any forward-looking statements to reflect subsequent events, new information or future circumstances.

SOURCE The Neiman Marcus Group, Inc.



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