Neiman Marcus Revenue Up for Quarter

Neiman Marcus Group Inc. posted revenue of $666 million for the fiscal fourth quarter ended Aug. 3, up from $636 million the prior year. Net earnings totaled $5 million in the quarter compared with a net loss of $21 million the prior year.

The Dallas company yesterday reported financial results for the fiscal quarter and for fiscal year 2002, which included a 14th and 53rd week, respectively, compared with FY 2001 fourth-quarter and fiscal-year amounts that were reported on a 13- and 52-week basis, respectively.

Revenue for fiscal year 2002 declined to $2.95 billion from $3.02 billion for FY 2001. Net earnings were $100 million, down from $107 million.

The company realigned business segments in the fiscal fourth quarter to reflect its current operating strategies. The online business, previously included in the Other business segment, is now in the Direct Marketing segment, and all amounts have been restated based on the new alignment.

Neiman Marcus Direct reported quarterly revenue of $96 million compared with $90 million the previous year. Operating earnings for Neiman Marcus Direct rose to $6.5 million in the quarter compared with a loss of about $300,000 in the fourth quarter of fiscal 2001.

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