Neiman Marcus Sees Dip in July Revenue

Share this content:
The Neiman Marcus Group Inc. reported a 3.4 percent drop in July comparable revenue yesterday.


The $163.8 million total for the four weeks that ended July 28 fell short of the $169.7 million posted during the comparable period that ended July 29, 2000.


Also, greater markdowns on weaker-than-expected summer revenue are expected to affect fourth-quarter and annual earnings.


July comparable revenue in the direct marketing segment fell 5.4 percent, reflecting a catalog mailing shift from July to June and a difficult prior-year comparison in which there had been a 35 percent gain in revenue during July 2000.


Fiscal fourth-quarter comparable revenue was 1.5 percent less than the same period last year and fell slightly short of company estimates.


In May Neiman Marcus announced a 15 percent decrease in fiscal third-quarter profits as well as plans to eliminate 190 positions totaling 1.5 percent of its workforce.


close

Next Article in Multichannel Marketing

Sign up to our newsletters

Company of the Week

We recently were named B2B Magazine's Direct Marketing Agency of the Year, and with good reason: We make real, measureable, positive change happen for our clients. A full-service agency founded in 1974, Bader Rutter expertly helps you get the right message to the right audience at the right time through the right channels. As we engage our clients' audiences along their journey, direct marketing (email, direct mail, phone, SMS) and behavioral marketing (SEM, retargeting, contextual) channels deliver information relevant to the needs of each stage. We are experts at implementing and leveraging marketing technologies such as CRM and marketing automation in order to synchronize sales and marketing communications. Our team of architects and activators plan, execute, measure and adjust in real time to ensure the strategy is working as needed and change things if it's not.

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