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."


Loading links....

Sign up to our newsletters

Company of the Week

Since 1985, Melissa Data has helped thousands of companies clean, correct and complete contact data to better target and communicate with their customers. We offer a full spectrum of data quality solutions, including global address, phone, email, and name validation, identify verification - available for batch or real-time processes, in the Cloud or on-premise. Our service bureau provides dedupe, email/phone append and geographic/demographic append services for better targeting and insight. For direct mailers, Melissa Data offers easy-to-use address management/postal software, list hygiene services and 100s of specialty mailing lists - all with competitive pricing and excellent customer service.

Find out more here »

DMN's 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