So, you’re looking for a deal. I get it. There was a time when Neiman Marcus Last Call was the absolute holy grail for anyone who wanted a $1,200 Brunello Cucinelli sweater without actually paying for the private jet lifestyle. You’d walk into one of those outlet stores, usually tucked away in a suburban premium mall, and find actual runway pieces marked down 70%. It felt like winning the lottery.
But if you’ve tried to find a Last Call lately, you’ve probably noticed something’s... off. The shelves are thinner. The locations are disappearing. Honestly, as of early 2026, the whole landscape has shifted so much that if you’re still shopping like it’s 2015, you’re missing the actual deals.
What Really Happened to Neiman Marcus Last Call?
Most people think Last Call just faded away because of "the internet." That’s a tiny slice of the pie. The real story is a bit more chaotic. Back in 2020, Neiman Marcus made a massive strategic pivot. They decided to shutter the vast majority of their Last Call brick-and-mortar stores. Why? Because they wanted to focus on the "top 2%" of their customers—the people who buy $50,000 worth of Chanel and Dior a year at full price.
They figured having a massive chain of discount stores was "diluting the brand." Basically, they didn't want the clearance rack to define the Neiman Marcus name.
Then things got wild. In 2024, the parent company of Saks Fifth Avenue—Hudson’s Bay—bought Neiman Marcus for $2.65 billion. They formed this mega-entity called Saks Global. But just a year later, in January 2026, the whole thing hit a wall. Saks Global filed for Chapter 11 bankruptcy.
Today, only a handful of physical Neiman Marcus Last Call stores are still standing. We’re talking five locations. If you aren’t near places like Grapevine Mills in Texas or San Marcos, you’re out of luck on the "in-person" hunt. The company is currently under a microscope, evaluating every square foot of floor space to see what stays and what goes during this bankruptcy restructuring.
🔗 Read more: Claiming unemployment benefits in Florida: What most people get wrong about Reemployment Assistance
The Secret "Last Call" That Isn't a Store
Here’s the thing: the clothes haven't stopped being overstocked. Designers still make too much stuff. Neiman Marcus still has leftovers. So where is it going if the stores are closed?
- The "Sale" Tab is the New Outlet: If you go to the main Neiman Marcus website right now, the "Sale" and "New Markdowns" sections are where the Last Call spirit lives. It's less "rummaging through a bin" and more "precision clicking," but the discounts are often deeper because they don't have to pay rent on an outlet building.
- Saks OFF 5TH Integration: Since Saks and Neiman are now under the same (albeit currently bankrupt) umbrella, we’re seeing a weird blurring of the lines. There are over 80 Saks OFF 5TH locations. While they aren't labeled "Last Call," they are increasingly the destination for the group’s high-end leftovers.
- Inventory Liquidation: During this 2026 bankruptcy phase, vendors have been a bit jumpy. Some brands have actually pulled their inventory back to sell through their own "Archive" sales.
Why the Hunt is Harder Now
It’s kinda frustrating. You used to be able to count on a specific "off-price" season. Now? It’s all over the place. The bankruptcy filing in early 2026 revealed that Saks Global (which includes Neiman) has been struggling to even get inventory because they weren't paying vendors on time. Chanel, LVMH, and Kering are owed millions.
When a retailer owes Chanel $137 million, Chanel doesn't send them the good stuff for the clearance rack. They stop shipping entirely. This means the "Last Call" items you see right now might be older stock or specific "made-for-outlet" pieces, which—let's be real—aren't the same quality as the main line.
How to Actually Score These Deals in 2026
If you’re determined to find those legendary markdowns, you have to change your strategy. Forget driving to a mall unless you live in Dallas or San Antonio.
Check the "Gift Card Events"
Neiman Marcus has doubled down on "spend more, get more" events. They’ll offer you a $750 gift card if you spend a certain amount. If you’re buying a staple piece (like a Burberry trench), this actually works out to a better "net" discount than waiting for a Last Call markdown that might never happen.
Monitor the "New Markdowns" Daily
The digital team at Neiman Marcus updates the sale section almost daily. I’ve seen Manolo Blahniks hit 70% off at 3:00 AM on a Tuesday. By 9:00 AM, they're gone. You’ve gotta be fast.
The "InCircle" Hack
If you have their credit card or loyalty status, use it. The bankruptcy doesn't mean your points are dead (yet), and they often give early access to "Last Call" style events online before the general public even sees the link.
What’s Next for the Brand?
Is Neiman Marcus Last Call dead? Not quite, but it's on life support. The new CEO, Geoffroy van Raemdonck, is trying to navigate the company through Chapter 11. They’ve secured about $1.75 billion in financing to keep the lights on, but the goal is "sustainable luxury," not "discount heaven."
💡 You might also like: The Hidden Message in Wendy's Logo: What Most People Get Wrong
Expect the remaining physical Last Call stores to either be rebranded or closed by 2027 as the company focuses on its high-margin flagship stores and digital presence. The era of the "luxury outlet mall" as we knew it is basically over.
Your 2026 Bargain Strategy
- Stop waiting for a "Last Call" grand opening. It’s not happening. Focus your energy on the Neiman Marcus "New Markdowns" page online.
- Pivot to Saks OFF 5TH for the physical thrill of the hunt. They have the scale that Last Call lost years ago.
- Watch the bankruptcy news. If the restructuring fails, we might see massive liquidation sales across all banners. That’s when the real "Last Call" begins.
- Check the labels. Make sure you’re buying "transferred from store" items, not "specially made for outlet" products. The quality difference is huge.
The game has changed. You can still dress like a billionaire on a budget, but you have to be more of a digital detective than a mall rat these days. Stay sharp on those refresh buttons.