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Neiman Marcus: 4Q & Full-Year Drops

(Filed Under Financial and General Interest News). For the fourth quarter of fiscal 2009 ended August 1st, 2009, Neiman Marcus cited a 23.4 decrease in comparable revenues, to $768.0 million from $1.03 billion during last year's quarter period. For fiscal year 2009, also ended August 1st, the company cited a 21.4 percent drop in comparable revenues, to $3.64 billion from $4.60 billion during fiscal 2008.

Burton M. Tansky, chairman and CEO of the company, reported that Neiman Marcus has “aggressively reduced” its inventory levels, ending the year with 23 percent less merchandise than last year. He called 2009 “a very challenging year for our company.”

Neiman Marcus, Inc. currently operates 40 Neiman stores across the United States and two Bergdorf Goodman stores in Manhattan, as well as the direct marketing division, Neiman Marcus Direct.

more Financial and General Interest News >>

Published 09-23-2009 by Amanda Torres Price

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Neiman Marcus: 4Q & Full-Year Drops

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