US: Neiman Marcus books 80% hike in Q1 profit
By Petah Marian | 29 November 2011
- Q1 profit rose 80.3% to reach US$48.4m
- Sales rose 7.8% to $1bn
- Comparable store sales increased 8%
Neiman Marcus saw its first-quarter profit soar by 80.3% as the luxury department store operator posted stronger sales over the period.
The US retailer yesterday (28 November) said net income rose to US$48.4m for the quarter ended 29 October. Sales rose 7.8% to $1bn, as comparable store sales increased 8%. Operating earnings reached $122.8m, up 23% on the same period of the previous year.
Neiman Marcus in September said its fourth-quarter losses doubled to $61.4m as it incurred costs related to refinancing some of its debt.
Companies: Neiman Marcus
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