Retail Industry
Industry: Email Alert RSS FeedNEIMAN'S ROLLS WITH 15.9% PROFIT JUMP.(Neiman Marcus Group Inc.)(Brief Article)
Daily News Record, June, 2005 by Young, Vicki M.
Byline: Vicki M. Young
NEW YORK -- The Neiman Marcus Group Inc.'s third-quarter results showed that the luxury sector is still red-hot. The company also said it expects to close on its acquisition to private investors in November.
Last Wednesday the retailer said net income for the quarter ended April 30 rose 15.9 percent to $79.8 million, or $1.61 a diluted share, from $68.8 million, or $1.40, in the same year-ago quarter. Revenues were up 6.9 percent to $933.4 million from $873.2 million. Sales at specialty retail stores climbed 6.8 percent to $767 million from $718 million, while same-store sales gained 6.5 percent. Sales at the direct-marketing division gained 3.1 percent to $130 million from $126 million. The balance of the revenues came from...
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