USA: Neiman Marcus Reports On 'Challenging' July
The Neiman Marcus Group, Inc announced July comparable revenues continued to reflect a challenging retail environment. As a result, higher markdowns on weaker-than-expected summer revenues are expected to impact the company's fourth quarter and full year earnings. July sales were slower and business was more promotional than anticipated, with deeper markdowns in this clearance month. The company also faced a difficult comparison against a double-digit per cent revenue gain last year.
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