Neiman Marcus sales up in 1Q
Nov. 1, 2012 at 6:01 a.m.
DALLAS (AP) - Neiman Marcus Inc. reported Thursday that its revenue improved in its first quarter as consumers bought more of the high-end retailer's goods.
The company said that its total revenue for the 13-week period that ended Oct. 27 increased 6.5 percent to $1.07 billion.
Its revenue from stores open at least a year increased 5.4 percent to $1.06 billion. This is considered a key measure of financial performance because it strips away the impact of recently opened or closed stores.
Neiman Marcus said that this measure increased 3.5 percent at its stores and 13.5 percent for its online business. Shoppers bought more women's clothing, shoes, jewelry, men's products and designer handbags in stores and more handbags, jewelry, men's products and beauty products online.
The company plans to report its full first-quarter results on Nov. 28.
The privately-held company, based in Dallas, operates Neiman Marcus, Last Call and Bergdorf Goodman stores. It operates an online and catalog business under the Neiman Marcus, Horchow, Last Call and Bergdorf Goodman brand names.