Women’s Wear Daily
04.18.2014
financial
financial

Neiman Marcus Earnings Jump, Sales Rise

Luxury retailer Neiman Marcus Inc. said Wednesday that its Q1 profits more than doubled on strong sales.

By
financial/news
Luxury retailer Neiman Marcus Inc. said Wednesday first-quarter earnings more than doubled as sales rose.

For the three months ended Oct. 27, earnings reached $78.8 million from $27.2 million in the same year-ago period. Sales grew 9 percent to $1.13 billion from $1.04 billion. Total same-store sales increased 6.5 percent and went up 5.8 percent in November.

The company said operating earnings for the first quarter of the 2008 fiscal year were $189.7 million compared with $154.3 million a year ago. On an adjusted basis, operating earnings for the quarter were $175.2 million compared with $168.1 million for the same year-ago quarter. Neiman’s also said it recorded income of $32.5 million in the current three-month period, which represents a one-time gain due to the company’s decision to freeze pension and retirement benefits as of Dec. 31.


For complete coverage, see Thursday’s issue of WWD.
load comments

ADD A COMMENT

Sign in using your Facebook or Twitter account, or simply type your comment below as a guest by entering your email and name. Your email address will not be shared. Please note that WWD reserves the right to remove profane, distasteful or otherwise inappropriate language.

Ads by Google

Newsletters
Newsletters

Sign upSign up for WWD and FN newsletters to receive daily headlines, breaking news alerts and weekly industry wrap-ups.

Publications

ArticleFinder

Beauty


Choose By

Clear

How it works

Close

Lorem Ipsum
Dolor sit amet, consectetur adipiscing elit. Vivamus ac nibh et risus lobortis scelerisque tempor nec enim. Etiam facilisis sapien sit amet.

Lorem Ipsum
Dolor sit amet, consectetur adipiscing elit. Vivamus ac nibh et risus lobortis scelerisque tempor nec enim. Etiam facilisis sapien sit amet.

Lorem Ipsum
Dolor sit amet, consectetur adipiscing elit. Vivamus ac nibh et risus lobortis scelerisque tempor nec enim. Etiam facilisis sapien sit amet.

Lorem Ipsum
Dolor sit amet, consectetur adipiscing elit. Vivamus ac nibh et risus lobortis scelerisque tempor nec enim. Etiam facilisis sapien sit amet.

Lorem Ipsum
Dolor sit amet, consectetur adipiscing elit. Vivamus ac nibh et risus lobortis scelerisque tempor nec enim. Etiam facilisis sapien sit amet.


Or