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Revenue Rises for Neiman Marcus Direct, Stores

Revenue at The Neiman Marcus Group Inc., Dallas, and its Neiman Marcus Direct division was up in the 2003 fiscal first quarter, which ended Nov. 2, the company said yesterday.

Total revenue was $734 million in the quarter, up from $681 million the previous year. Net earnings before a change in accounting principle totaled $43 million for the quarter, up from $23 million for the 2002 Q1.

In the fourth quarter of fiscal year 2002, the company realigned its business segments. Online operations are included in the Direct Marketing segment while previously certain online operations were included in the Other business segment.

Neiman Marcus Direct reported 2003 Q1 revenue of $114 million compared with $102 million the prior year. Operating earnings for Neiman Marcus Direct reached $7.4 million compared with a loss of $2.3 million in the 2002 Q1.

First-quarter revenue for the Specialty Retail Stores segment, which includes Neiman Marcus Stores and Bergdorf Goodman, reached $601 million compared with $561 million the prior year.

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