USA: The Neiman Marcus Group Reports September Revenues
Comparable revenues for Specialty Retail Stores - including Neiman Marcus Stores and Bergdorf Goodman - rose 20.5 per cent in the five-week period. Comparable revenues for Neiman Marcus Direct rose 6.6 per cent. Neiman Marcus Stores continued its focus on growth in key merchandise categories during this five-week period. Double-digit sales of women's fine apparel helped to drive similar growth rates in women's shoes, designer jewelry, precious jewelry, designer handbags, and cosmetics. Men's shoes and sportswear also showed strong gains. Across regions, 28 of 31 Neiman Marcus stores posted double-digit gains. Compared with last year, revenues at Bergdorf Goodman rose as a result of Sunday store openings, which began in September 2000, and last year's mid-November opening of the new Plaza level. Bergdorf Goodman saw strong gains in both its men's and women's apparel categories, with particular success in its luxurious new private label men's sportswear collection. At Neiman Marcus Direct, revenues in the period were negatively impacted by the later mailing date of the Neiman Marcus Christmas book and promotional shifts in the Chef's Catalog business. The Neiman Marcus Group expects October comparable revenues to be in the low- to mid-single digit range relative to last year, due in part to the shift of the Butterflies promotion.
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