Upscale department store retailer Neiman Marcus saw its first-quarter sales increase 6.5%, driven by gains in women's wear, men's wear and accessories. 

Total revenues reached US$1.07bn for the 13 weeks ended 27 October, compared to $1bn the year before. The company said growth was driven by women's sportswear and shoes, men's, designer handbags and jewellery, with strong sales in the Southeast and Texas.

Comparable revenues rose 5.4% to $1.06bn. At specialty retail stores, comparable revenues climbed 3.5%, while online comparable revenues jumped 13.5%.

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Neiman Marcus, Inc. Reports First Quarter Revenues

DALLAS--(BUSINESS WIRE)--Neiman Marcus, Inc. announced the following preliminary company-wide revenues for the first quarter of fiscal year 2013.

        13 weeks ended

(1st Fiscal Quarter)

       
                         
        October 27,

2012

      October 29,

2011

      % Change
                         
Total Revenues       $1.07 billion       $1.00 billion       6.5%
                         
Comparable Revenues       $1.06 billion       $1.00 billion       5.4%
                         

For the first quarter of fiscal year 2013, comparable revenues in the Specialty Retail Stores segment increased 3.5 percent. Revenue growth trends were the strongest in the Company’s stores in the Southeast and Texas. The merchandise categories in the Specialty Retail Stores segment that performed the strongest included women’s contemporary sportswear and shoes, designer handbags, jewelry and men’s.

Comparable revenues at On-line for the first quarter of fiscal year 2013 increased 13.5 percent. The top selling merchandise categories in the On-line segment included handbags, jewelry, beauty and men’s.

Neiman Marcus, Inc. plans to report first quarter earnings on Wednesday, November 28, 2012. The Company will host a conference call the same day that will be simultaneously webcast.

The Company’s thirteen week reporting period is consistent with last year and reflects a 4-5-4 week fiscal first quarter.

Neiman Marcus, Inc. operations include the Specialty Retail Stores segment and the On-line segment. The Specialty Retail Stores segment consists primarily of Neiman Marcus, Last Call and Bergdorf Goodman stores. The On-line segment conducts direct to consumer operations under the Neiman Marcus, Horchow, Last Call and Bergdorf Goodman brand names. Information about the Company can be accessed at www.neimanmarcusgroup.com.

 

Original source: http://www.businesswire.com/news/home/20121101005308/en/Neiman-Marcus-Reports-Quarter-Revenues