The news that following its purchase by Saks Global, the downtown Neiman Marcus flagship would be closed was not exactly a surprise given the state of urban retailing. But still it is hitting us hard. If there was any retail store that defined Dallas when it was growing so quickly during the mid-1900’s and becoming a world-class city, it was Neiman’s under Stanley Marcus and his team. It signaled to the country that Dallas was not just a cowboy town but was sophisticated, worldly and the equal of any of its counterparts elsewhere in the U.S.
We understand the retail business since here at the Dallas Market Center we deal with it every day. We know downtown flagships around the country have struggled and now Dallas will join such cities as Houston, Atlanta and Detroit that no longer have such retail outlets. Soon Philadelphia will join the list and San Francisco could be next. It doesn’t mean the department store companies are any less important on the retail scene, they are just resetting their physical footprints as any good business must to keep up with shopping patterns.
One can make the case that downtown flagships play a role in a retailer’s branding, serving as a showcase and a place where certain shoppers are most comfortable going to...above and beyond its contributions to the bottom line. But we also get that it’s a business and companies have shareholders they must be responsible to. It’s a delicate balance.
The Neiman’s closing comes as downtown Dallas has been experiencing a bit of a renaissance. Retailers like Forty Five Ten, trendy new hotels like the Swexan and too-many-to-mention wonderful restaurants have made the neighborhood come alive. Neiman’s was an anchor for that and now it will be gone.
I remember when I first came to Dallas and started shopping at the downtown Neiman’s. It was magical and I continued to visit it ever since. Apparently there just weren’t enough people like me.
We’ll watch for the upgrades at the NorthPark Neiman’s as Saks Global has promised and we’re sure they will make a good store even better. But it will never be the same as the place on Main Street. Thanks for the shopping memories.
Cindy Morris,
CEO, Dallas Market Center
