Neiman-Marcus sees sales drop

Underscoring the problems confronting retailers of upscale and luxury goods in a recessionary environment, Neiman-Marcus said same-store sales fell 3 percent during the all-important Christmas selling season.

Total store sales declined by 1.9 percent, to $475 million from $484 million the previous year.

Hardest hit was the specialty retail stores segment — including Neiman Marcus and Bergdorf Goodman stores — where same-store sales dropped off by 4.4 percent.

For the 22 weeks year-to-date of the current fiscal year, same-store sales are off at an accelerated pace of 6.7 percent. Total store revenues, boosted by new store openings, fell by 5.7 percent, to $1.41 billion from $1.45 billion the prior year. Neiman Marcus' 2002 fiscal year ends Aug. 3.

Featured Video

  • Live From New York: Fashion Comes Across the Pond

    Camera Icon More Videos

Subscribe to
Home & Textiles Today eDaily
Receive the news you need to know about the trends in the industry delivered right to your inbox.


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!