Headlines

Record for Neiman's

Retailer reports unprecedented first-quarter earnings

Published

21 years ago

December 9, 2003

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The Neiman Marcus Group Inc. (Dallas) has reported a 12.4 percent increase in total revenues for its first quarter of fiscal year 2004.

“I am very pleased with our first quarter earnings results,” said president and ceo Burton Tansky. “The combination of strong sales, improved gross margin and continued expense control resulted in record first quarter sales and earnings.

“Of particular note,” Tansky continued, “all of our business segments, including brand development, reported exceptional results, supported by strong sales across a wide range of our merchandise offerings.”

First quarter revenues for the Specialty Retail Stores segment, which consists of Neiman Marcus Stores and Bergdorf Goodman, were up 11.6 percent — an increase of 10.6 percent at Neiman Marcus and 18.3 percent at Bergdorf Goodman. Same-store sales increased 8.2 percent. The retailer said it anticipates a 7-9 percent increase for the second quarter.

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