Thursday, January 8, 2009
Dallas-based Neiman Marcus posts 31% lower holiday sales
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C'mon, rich people, start spending some of that free bailout money already!!
DALLAS — Neiman Marcus, Inc. announced today that in the five-week December period, comparable revenues in the Specialty Retail Stores segment, which includes Neiman Marcus Stores and Bergdorf Goodman, decreased 31.2 percent. The company experienced weakness across all geographies and merchandise categories in the Specialty Retail Stores segment.
Comparable revenues at Neiman Marcus Direct in the five-week December period decreased 9.2 percent. The merchandise categories in the Direct Marketing segment that performed the strongest included children’s and beauty.
Neiman reported its total revenue for the five-week period hit $532 million, down from $723 million in 2007.
Source: Neiman Marcus
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