Department Stores

Neiman Marcus Posts Second-Quarter Loss

Marks second consecutive quarterly decline

Published

15 years ago

March 12, 2009

VMSD Staff

Dallas-based Neiman Marcus reported it took a $509.2 million loss in the fiscal second quarter, the company’s first holiday-period loss since it began disclosing quarterly results in 1994.

For the quarter ended Jan. 31, Neiman’s sales dropped 21 percent from a year ago.
“Full-price selling is what we are concerning ourselves with,” says ceo Burt Tansky, according to an article in The Wall Street Journal.

During the holiday season, luxury retailers such as Neiman’s and Saks, heavily discounted merchandise to move it off the racks. Now their fighting concerns that consumers will become conditioned to pay only sale or discounted price for luxury items.

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