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In 1999, Harcourt General spun off Neiman Marcus stores and Bergdorf Goodman as its separate, publicly traded entity, the Neiman Marcus Group. In 2005, the current owners took the company private. Neiman Marcus has a long-held reputation for coddling its wealthy shoppers with customer service that goes above and beyond the standard. In 1984, it established InCircle, the industry's first customer loyalty program. The program now has 144,000 members and generated 40 percent of the company's total revenue in the latest fiscal year. Neiman Marcus expanded its business online in 2000, becoming the first major luxury store to do so. Now, like other upscale retailers, Neiman Marcus is trying to reinvent its shopping experience for its customers who are increasingly using their tablets and smartphones to research and buy their designer goods. In the filing, Neiman Marcus says it plans to further meld the online experience with shopping at its stores. It also plans to expand its Last Call and Cusp chains. In the SEC filing, Neiman Marcus Inc. did not disclose how many shares would be offered, or what the projected price range would be. A regulatory filing by the company also did not disclose what exchange it expects to list the stock on or what ticker symbol it plans to use. For fiscal 2012, Neiman Marcus had net income of $140.1 million on revenue of $4.35 billion. The retailer had net income of $31.6 million and revenue of $4 billion in fiscal 2011. Earlier this month the company reported that its fiscal third-quarter net income increased 13 percent on stronger sales, particularly online. Revenue from its online business jumped 15 percent in the period. Revenue from stores open at least a year, considered a key indicator of financial performance because it strips away the effects from recently opened or closed stores, increased 3.6 percent.
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