The Neiman Marcus Group Inc., Dallas, posted June revenues of $256 million, an increase of 3.1% over the $248 million reported for the same five-week period in 2001.
Comparable revenues for the Neiman Marcus Direct division decreased 8% from the same period last year. The company cited a move to reduce catalog circulation and eliminate unprofitable catalogs as contributors to the decline. The Horchow catalog was the strongest performer of the company’s direct brands.
Retail store revenues increased 2.3%, with sales in the women’s contemporary sportswear and fine apparel, ladies’ shoes and designer jewelry department doing particularly well. Revenue growth was strongest in the northeast.
The company currently anticipates comparable revenues for the fourth quarter of fiscal 2002 to decline approximately 1% – 3%.
