DALLAS, April 16, 2012 /PRNewswire/ -- Karen Katz, President and Chief Executive Officer of Neiman Marcus, Inc., announced today that Michael R. Kingston would be joining the company, April 23, as Senior Vice President, Chief Information Officer of The Neiman Marcus Group. Mr. Kingston succeeds Phillip Maxwell, who earlier this month announced his retirement.
Mr. Kingston joins The Neiman Marcus Group from ANN, Inc., parent company of Ann Taylor, where he was the Executive Vice-President, Enterprise Transformation and Technology. In this role, Mr. Kingston was responsible for the successful execution of a restructuring and transformation program. Prior to ANN, Inc., Mr. Kingston was Vice President, Applications at Coach, Inc. and International Director, Information Services at LVMH.
"Michael Kingston is the perfect choice for us to lead our Information Technology team, " said Karen Katz. "The use of new technology and integrated systems is key to our omni-channel strategies. Michael's background in the retail industry, combined with his impressive skills planning, designing, implementing, and supporting applications for large multi-national corporations will blend perfectly with our very talented management team."
"This is a terrific opportunity to become part of an iconic company. I'm looking forward to working with the high performing team at The Neiman Marcus Group as it continues to grow its share of the luxury market with distinctive merchandise and superior service," said Michael Kingston.
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, Bergdorf Goodman and Horchow 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 Neiman Marcus, Inc.