US: Neiman Marcus Q1 profit up on rising sales
- Q1 net profit up 2.5% to US$49.6m
- Total revenues increased 6.5% to $1.07bn
- Comparable revenues rose 5.4%
Upscale department store operator Neiman Marcus has seen its first-quarter net profit rise 2.5% on the back of higher sales of apparel, footwear and accessories.
Net earnings reached US$49.6m during the quarter to 27 October, compared with $48.4m last year.
Total revenues increased 6.5% to $1.07bn, against $1bn the prior year. Comparable revenues rose 5.4%.
The Dallas-based retailer said earlier this month that growth was driven by women's sportswear and shoes, men's, designer handbags and jewellery, with strong sales in the Southeast and Texas.
At its specialty retail stores, which include the Neiman Marcus and Bergdorf Goodman stores, revenues rose 4.9% to 851.3m, compared to $811.8m last year. Online revenues were up 13.5% to $217.2m against $191.3m the year before.
Upscale department store operator Neiman Marcus has confirmed plans to scale back its physical operations in China, closing a warehouse set up to serve its online business in the country....
Omaha-based investment firm Waitt Company has acquired the Judith Leiber, Adrienne Vittadini and Taryn Rose brands as part of a co-investment with brand development company Authentic Brands Group....
Three US retailers have agreed to settle charges brought by the Federal Trade Commission (FTC) of misleading consumers over "faux fur" clothing and footwear products....
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....
- Under Armour on track with new UAS sportswear line
- Myanmar garment exports surged 20% in 2015
- EU trade ministers push on TTIP and Canada pacts
- Unravelling cotton's supply and demand challenges
- What does the future hold for world wool supply?
- US retailers urge action on Hanjin Shipping crisis
- Zara launches eco-friendly Join Life collection
- Adidas unveils first Speedfactory running shoe
- Bangladesh calls for US duty-free apparel access
- Ascena Retail disappoints amid challenging year
- Too Many Standards
- Apparel (GLOBAL) - Industry Report
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Ralph Lauren Corporation : Retailing - Company Profile, SWOT & Financial Analysis
- Central America strategic sourcing review - a focus on Guatemala, El Salvador and Honduras