Neiman Marcus Posts Catalog Gains, Store Losses
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.
