Neiman Marcus Posts Catalog Gains, Store Losses

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The Neiman Marcus direct mail segment saw sales rise 9.5 percent in March. However, same-store sales were disappointing, and the company expects an earnings shortfall for the third quarter.

Each of the catalog divisions posted gains, with the Horchow home-furnishing catalog showing particular strength.

Same-store sales fell 4.7 percent in March, while total sales fell 3.6 percent to $254.8 million, from $264.2 million a year earlier. Same-store sales in the specialty retail segment fell 7.7 percent.

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