TITLE

Neiman Marcus Profits Soar

PUB. DATE
March 2005
SOURCE
Home Textiles Today;3/7/2005, Vol. 26 Issue 26, p20
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that helped by a big gain in same-store sales, stronger margins and lower costs, fourth quarter profits at upscale retailer Neiman-Marcus Group Inc. climbed 19.3 percent, to $70.6 million from $59.2 million last year. In a strong lift to earnings, in addition to the stronger comps, average gross margin widened substantially, by 110 basis points, or 1.1 percentage points, to 52.5 percent from 31.4 percent the preceding year. In the same time, operating costs were whittled 90 basis points, or nine-tenths of a percentage point, to 21.9 percent of sales from 22.8 percent a year ago.
ACCESSION #
16314573

 

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