US: Neiman Marcus boosts Q2 profit
- Q2 adjusted net profit up 24.2% to US$40.4m
- Revenues up 6.3% to $1.36bn
- Improved performance in second quarter
Retailer Neiman Marcus improved its performance in the second quarter of fiscal 2013, boosting revenues by over 6% and adjusted earnings by nearly a quarter.
The US company recorded a 5.3% increase in comparable revenues in the three months to 26 January, continuing the revenue patterns from its first quarter.
For the first half as a whole, revenues increased 6.6% to $2.43bn, with comparable revenues rising by 5.4%.
Meanwhile, adjusted net earnings for the first half were up 12.4% to $99.5m, the company said.
Upscale department store retailer Neiman Marcus has reportedly appointed hired Credit Suisse Group, Bank of America Merrill Lynch and JPMorgan Chase & Co to lead a potential initial public offering (I...
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