Neiman triples profits, nabs Sears exec

DALLAS — The Neiman Marcus Group has hired Steven Dennis as senior vice president, strategy, business development and multi-Channel Marketing. He will report to Burton Tansky, president and CEO of The Neiman Marcus Group.

Dennis spent twelve years with Sears, Roebuck and Co, where he held positions of increasing responsibility in strategy, new business development, general management and marketing. His most recent position was vice president, corporate strategy.

During his tenure with Sears, Steven led their multi-channel efforts and played a key role in the creation of the new "Sears Grand" store concept and the acquisition of Lands' End. Prior to Sears, he spent five years with The NutraSweet Company in a variety of business development and new product marketing roles, and two years with Booz, Allen & Hamilton, Inc. as a strategy consultant.

It was the lastest news in a busy week for the upstairs retail company. After the bell on Tuesday, the company reported that fourth fiscal quarter profits virtually tripled, shooting up 187 percent, to $20.6 million from $7.2 million last year.

The performance was fueled by a double-digit gain in same-store sales in a thriving market for luxury goods, as well as stronger margins and lower costs. Sales at the nation's premier carriage-trade retailer increased 12.3 percent, to $789 million from $702.7 million, while the crucial gauge of same-store sales jumped 12.5 percent.

Home & Textiles Today Staff | News & Commentary

 Home Textiles Today is the market-leading brand covering the home and textiles markets, offering a comprehensive package of print and online products. Home & Textiles Today provides industry news, product trends and introductions, exclusive industry research, consumer data, store operations solutions, trade show news and much more.

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HTT Cover October 2017

See the October 2017 issue of Home & Textiles Today. In this issue, we look at the Top 25 Online Retailers.  H&TT's exclusive annual ranking of the biggest online sellers of home textiles finds that while pure play etailers continue to fly, bricks & clicks are digging into omnichannel. See details!