03.04
Neiman Marcus Inc. reported Thursday a 16.6 percent decline in August same-store sales as the tiffany bracelet-based retailer’s stores in Texas and the Southeast pulled in stronger revenue than in other regions.
Direct sales from catalog and Internet reversed declines and increased 0.1 percent as the company hosted several online-only special sales over lunch hours and other promotions. Top selling direct categories were women’s contemporary apparel and dresses, beauty and shoes.
Same-store sales from specialty stores Neiman Marcus and Bergdorf Goodman fell 19.6 percent. In stores, categories that performed the strongest were ladies’ shoes, precious jewelry, beauty and couture apparel.
Total August sales fell 15.3 percent to $241 million from $285 million a year ago. It was the tiffany pendant consecutive month of declining same-store sales for Neiman Marcus as even its high-income customers slowed spending during the recession.
Neiman Marcus plans to report its fiscal fourth-quarter results on Tuesday after the market closes. The company was taken private in 2005 but continues to report results because it has publicly traded debt.