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....
- Can Gap maintain its momentum minus Larsson?
- Patagonia's CSR commitments re-shaping the sector
- Brands back Cambodia industry-wide wage bargaining
- Can robotics redefine apparel manufacturing?
- Zalando: profit is so last season
- Unions agree proposed Cambodia minimum wage
- New CEO may focus on Ralph Lauren supply chain
- Patagonia ramps up Fair Trade Certified apparel
- Nike collaborates on low-impact textile challenge
- Old Navy's Larsson to replace Ralph Lauren as CEO
- The future market potential for smart garments and e-textiles
- Global Database of the Top 1000 Apparel Producers - Company Names, Financial Performance, and Contact Details
- Myanmar's Garment Sector in 2015 - now with updated members' directory
- Global market review of lingerie - forecasts to 2020
- Outdoor performance apparel: peaks, valleys, and green fields