Neiman’s: Luxury customer won’t compromise

Dallas – Despite worries of a weakening economy, Neiman Marcus’ core customer is expected to shop on, executives told analysts during this morning’s year-end conference call.

“The luxury consumer will remain a luxury consumer. She will not vacate the idea of buying quality, luxury, the most current fashion and style,” said Burt Tansky, ceo. “She may buy less, but she will never vacate the idea that that’s part of her interest.”

But even Neiman is not immune from some macro trends. Sales of home merchandise among its luxury nameplates have experienced the slackness seen elsewhere in retail. “We’ve taken a great deal of time to try to understand what the industry’s going through, and we seem to experiencing about the same as the industry,” said Tansky.

For the fourth quarter ended July 28, Neiman narrowed its net loss to $15.9 million vs. a loss of $42 million in the year-earlier period. Sales climbed 9.4% to $981.7 million, with comps rising 7%.

For the fiscal year, Neiman's loss expanded $111.9 million from a loss of $56.6 million a year ago. Sales jumped 10% $4.4 billion, with a comp gain 6.7%.

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.

Featured Video

  • The Countdown to the ICON Honors Continues featuring Christophe Pourny

    Camera Icon More Videos


HTT digital edition

See the May 2017 issue of Home & Textiles Today. In this issue, we discuss our annual Market Basket survey, which finds higher prices and more polyester at leading retailers. See details!