USA: Neiman Marcus Posts $5m Q4 Profit
The Neiman Marcus Group Inc on Tuesday announced it swung to fourth quarter profit of $5 million compared to a year-ago $21m loss as it kept tight control of inventories and operating expenses. The Texas-based company said revenues in the 14 week quarter jumped to $666m from $636m while for the 53-week fiscal 2002, total revenues fell to $2.95 billion from $3.02bn and net profit slipped to $100m from $107m.
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