More Good News from Neiman’s

The Neiman Marcus Group Inc. (Dallas) announced a 21.4 percent increase in total revenues for the 13 weeks ended May 1, 2004. What the company calls comparable revenues from its retailing, direct and Internet operations increased 21.4 percent.

For the 39 weeks ended May 1, 2004, total revenues are up 15 percent and comparable revenues up 14.4 percent.

In May, comparable revenues in the specialty retail stores segment increased 7 percent. The company said its results were negatively impacted by the shift of a men’s sales event at both Neiman Marcus Stores and Bergdorf Goodman from May in the prior year to June in the current year. It said revenue growth trends were the strongest in the western stores and in the couture, contemporary sportswear, women’s dresses, designer handbags and jewelry segments.

“We achieved exceptional results this quarter, attaining several new performance milestones, including our highest-ever quarterly operating income margin and net income,” said president and ceo Burton Tansky. “This performance is a result of the many initiatives we have taken over the past few years, including an intense focus on regular price sales growth, disciplined inventory management and active expense control.”

Third quarter revenues for the specialty retail stores segment, which consists of Neiman Marcus Stores and Bergdorf Goodman, leaped 22 percent — 21 percent for the company’s 49 Neiman Marcus and Last Call stores and 30 percent for its two Bergdorf Goodman stores in New York.