June comparable revenues reflected a challenging retail environment, the shift of the annual men’s sale into May from June, and a difficult comparison against a double-digit percent revenue gain last year, Neiman Marcus said in a release.
The decline in June comparable revenues follows a 4.2 per cent revenue increase in May, and is in line with company expectations for flat to slightly negative comparable revenues in the fourth quarter.
Comparable revenues in the specialty retail stores segment, which includes Neiman Marcus stores and Bergdorf Goodman, were 6.9 per cent below the year-ago period. The East and West coast regions posted the best performance, while women’s contemporary sportswear, jewelry, and cosmetics were the strongest categories.
Comparable revenues in the direct marketing segment increased 0.9 per cent in the five-week period.
The company’s five-week reporting period is consistent with last year and reflects a 4-5-4 week fourth quarter and 52-week year. The company expects to add a fifty-third week at the end of fiscal 2002.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataThe Neiman Marcus Group includes the Specialty Retail Stores segment, which consists of Neiman Marcus Stores and Bergdorf Goodman, and Neiman Marcus Direct, the direct marketing operation.
