What has the sales volume been like for Neiman Marcus lately?
Luxury shoppers are still holding back. Dallas-based Neiman Marcus Inc. reported a 24.6 percent decrease in April same-store sales at its namesake stores and at Bergdorf Goodman in New York. Weakness was across the board in all merchandise categories and geographic regions, the company said Thursday. The sales decline wasn’t as steep at its Irving-based Neiman Marcus Direct, which operates the company’s catalog and Internet business that includes Horchow. Sales fell 12.3 percent from April of last year with beauty scoring the top spot. Stores and direct results together generated a 22.5 percent decline in April same-store sales. April completed Neiman Marcus’ fiscal third quarter. Overall, same-store sales fell 25.1 percent from a year ago. Broken out, Neiman Marcus store sales declined 27.1 percent, Bergdorf Goodman fell 27.4 percent and NM Direct posted a 14.3 percent decline. Saks Inc. said Thursday its same-store sales fell 32 percent, worse than the consensus analyst forecast of 3
Sales volume at Neiman Marcus has dropped significantly due to the weakening economy. For example, same-store sales at Neiman Marcus Inc. decreased 20.9 percent to $228 million for the four weeks ended Feb. 28, compared with $288 million for the four weeks ended Feb. 23, 2009, the company announced recently. Total revenues dropped 19.7 percent to $232 million for the period, compared with $288 million for the four weeks ended Feb. 23, 2009. Sources: http://www.nationaljewelernetwork.
