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Neiman Marcus, Inc. (SWOT Analysis)

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“SWOT is an acronym for the internal Strengths and Weaknesses of a firm and the environmental Opportunities and Threats facing that firm. SWOT analysis is a widely used technique through which managers create a quick overview of a company’s strategic situation. The technique is based on the assumption that an effective strategy derives from a sound “fit” between a firm’s internal resources (strengths and weaknesses) and its external situation (opportunities and threats). A good fit maximizes a firm’s strengths and opportunities and minimizes its weaknesses and threats. Accurately applied, this simple assumption has powerful implications for the design of a successful strategy.”

Neiman Marcus, Inc.

Neiman Marcus is a leading luxury goods retailer in the US. The company operates through multi-channel retail formats including specialty retail stores and direct marketing. The company’s merchandise offering includes high-end fashion apparel, accessories, jewelry, beauty products and decorative home products. It is headquartered in Dallas, Texas and employed about 17,000 people.

Strengths, Weaknesses, Opportunities and Threats (SWOT)

Location of Factor

TYPE OF FACTOR

Favorable

Unfavorable

Internal

Strengths

  • Strong luxury brand portfolio
  • Multi channel retail formats
  • Strong customer loyalty program

Weaknesses

  • Substantial amount of indebtedness
  • Low inventory turnover rate

External

Opportunities

  • US online retail sales projected to grow in 2009
  • New store opening and remodeling
  • Investment in technology to increase process productivity

Threats

  • Intense competition
  • Increase in labor cost impact profitability
  • Recession in the US would dampen consumer confidence
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