Returns line forms here: Neiman Marcus officially withdraws estimated $1 billion IPO

Neiman Marcus Group, which is a leading luxury department retailer that operates 43 full-line stores in the US, withdrew its plans for an initial public offering on Friday. It originally filed in August 2015 with an estimated deal size of $1 billion.

The Dallas, TX-based company was founded in 1907 and booked $5 billion in sales for the 12 months ended January 31, 2016. It had planned to list under the symbol NMG, but had not selected an exchange. The company had not selected bookrunners for the deal.