Neiman Marcus CEO Denies Reports She’s Stepping Down

Image courtesy of Nicholas Eckhart

There have been several rumors circulating in the retail world recently when it comes to Neiman Marcus: the company is looking for a buyer, or that Karen Katz, the retailer’s top executive, is headed for the exit. However, Katz has publicly declared that, contrary to the whispers, she’s not going anywhere.

Katz made the announcement during the fashion industry’s ACE Awards, where she was a presenter, The Dallas Morning News reports.

The denial came after Katz asked the audience if they liked her backpack, then adding “It doesn’t mean that I am packing up and going anywhere, unlike the rumors out there.”

Rumors of Katz’s departure began several weeks ago, amid the luxury department store’s struggle to attract customers to its brick-and-mortar stores in the face of online competitors like Amazon, $5 billion in debt hanging over its head, and sluggish sales.

Katz, who began as CEO for the company in 2010, made it clear, Woman’s Wear Daily reports (behind a paywall), that she has no plans to leave the retailer.

Her denial comes several days after Neiman Marcus told the New York Post that rumors of Katz’s imminent departure were “unfounded.”

Neiman Marcus CEO Karen Katz tells industry awards audience she’s not stepping down [Dallas Morning News]

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