November 24, 1999
Neiman Marcus Reports Increased Revenues
The Neiman Marcus Group, Chestnut Hill, MA, yesterday reported a 15.4 percent increase in revenues to $677.7 million for its first fiscal year quarter ended Oct. 30. Net earnings increased 46.4 percent to $37.4 million. The strong first quarter results were attributed to its retail and direct marketing businesses. "All of our businesses experienced very strong operating results in the quarter with significant revenue and earnings gains at Neiman Marcus Stores, Bergdorf Goodman and NM Direct," said Robert A. Smith, co-chief executive officer, in a statement released by the company. First quarter revenues at NM Direct, its direct marketing business, increased 12.8 percent to $86.1 million.