Neiman Marcus Sales Suffered in September

Share this content:
A slowing economy and a plunge in consumer spending since the Sept. 11 terrorist attacks has hit Neiman Marcus revenues for the five weeks that ended Sept. 29, the company said yesterday.


Comparable sales for Neiman Marcus Direct, the direct marketing business that includes catalogs and e-commerce, were down 9.1 percent. Sales at Neiman stores and Bergdorf Goodman were 21.1 percent below the five-week period last year.


Total revenue for the five weeks that ended Sept. 29 was $248.6 million, down 18.9 percent from $306.4 million for the same period last year.


Burton M. Tansky, president/CEO of Neiman Marcus, said in a statement that the Irving, TX, retailer was planning for lower fiscal first-quarter earnings like many businesses affected by the attacks.


"We are in the process of adjusting our purchases, examining our marketing activities, reviewing our expense structure and reconsidering our capital expenditure plans," he said. "While it is now clear that first-quarter results will be below previous guidance, given the uncertain economic and political events which continue to unfold worldwide, we cannot provide further guidance at this time."


Sign up to our newsletters

Company of the Week

Brightcove is the world's leading video platform. The most innovative and respected brands confidently rely on Brightcove to solve their most demanding communication challenges because of the unmatched performance and flexibility of our platform, our global scale and reliability, and our award-winning service. With thousands of customers and an industry-leading suite of cloud video products, Brightcove enables customers to drive compelling business results.

Find out more here »

Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here

Relive the 2017 Marketing Hall of Femme

Click the image above