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Third quarter results bring retailer back into black
Neiman Marcus Inc. (Dallas) reported total revenues of $895.2 million for the third quarter ended May 1, 2010. Same-store sales rose 9.1 percent, compared to a 25 percent drop last year.
The specialty luxury retailer posted a quarterly profit of $18.5 million compared to a net loss of $3.1 million in 2009.
Neiman Marcus, which is owned by TPG Capital and Warburg Pincus LLC, says sales in its specialty-retail segment rose 11 percent while the direct-marketing business grew 6.9 percent.
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