The Neiman Marcus Group Inc. (Dallas) has announced a 2.2 percent increase in total revenues for the five weeks ended April 2, 2005. Comparable revenues increased 3.4 percent in the period.
In the five-week March period, comparable revenues in the Specialty Retail Stores segment, which includes Neiman Marcus Stores and Bergdorf Goodman, increased 1.6 percent. March sales results were negatively impacted by the store closings on Easter Sunday, which occurred in March this year (compared to April last year). Additionally, sales were negatively impacted by the company’s decision to shift its loyalty program events that occurred in March of last year to April in the current year.
The company experienced the strongest sales trends in its stores located in the Western region. The merchandise categories in the Specialty Retail Stores segment that performed well included women’s contemporary sportswear and designer apparel, fashion accessories, men’s shoes, beauty and designer jewelry.
The luxury retailer said it currently expects comparable store revenues for the third quarter of fiscal 2005 to increase in the range of 5 percent to 6 percent, compared to last year versus the third quarter of fiscal year 2004 increase in comparable revenues of 22 percent.