Neiman Marcus Reports Net Loss, Revenue Drop

Share this article:
The Neiman Marcus Group Inc. announced last week that for the 13 weeks that ended July 28, it posted total revenue of $635.8 million, down 0.8 percent from $640.7 million a year earlier.


The Dallas company's operating loss during the quarter totaled $29.5 million, compared with operating earnings of $24.4 million last year. The fall was attributed primarily to higher inventory markdowns on a lower sales base and a non-recurring impairment charge of $9.8 million.


The company reported a net loss of $20.6 million during the fiscal 2001 fourth quarter, compared with net income of $10.1 million a year ago.


Fourth-quarter revenue at Neiman Marcus Direct was $86.6 million, compared with $85.7 million in the year-ago period.


Share this article:
You must be a registered member of Direct Marketing News to post a comment.
close

Next Article in Multichannel Marketing

Sign up to our newsletters

Follow us on Twitter @dmnews

Latest Jobs: