Neiman Marcus moves to profit in Q4
Upscale department store retailer Neiman Marcus has moved to a profit in its second-quarter and revealed an increase in sales.
For the three months ended 31 January, the company reported earnings of US$27.8m compared to a net loss of $84m in the prior year.
Total revenues for the quarter reached $1.52bn from $1.43bn a year earlier, while comparable revenues were up 5.6%.
For the full year, Neiman Marcus moved to a profit of $28m from a loss of $97.1m a year earlier. Total sales grew 5.8% to $2.71bn, while comparable revenues increased 5.5%.
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Upscale US department store retailer Neiman Marcus swung to a net loss during its first quarter, as sales fell. ...
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