Neiman Marcus Group

The combination of a cool spring and the continued pullback in luxury apparel spending took a toll on Neiman Marcus Group in the company’s third quarter.    The department store retailer’s profit plunged 80% in the period ended April 30, down to $3.8 million from $19.8 million in the year-ago period.    Total revenue for the quarter fell 4.2% to $1.17 billion, down from $1.22 billion a year ago.   Same-stores sales fell 5%.   

A lot of retailers are making it easy for customers to shop in store with their mobile phones, but what about those pesky batteries?
 
Neiman Marcus is addressing the often forgotten Achilles heel of mobile commerce – the frustratingly short life of many smartphone batteries. The luxury chain is expanding a partnership with mobile charging station provider ChargeItSpot with a planned nationwide rollout that will result in 37 mobile phone charging stations installed across 30 locations.

The retail industry is abound with digital innovation, with brick-and-mortar stores rapidly adopting retail technology tools, services and gadgets in order to become a more relevant part of the consumer’s day. Emerging retail technologies are poised to make a splash among retailers in 2016, but not all serve the same purpose.

When providing the BDO retail IPO outlook for 2015 at the beginning of this year, we asked: Will consumer businesses face a potential Alibaba hangover in 2015?

When providing the BDO retail IPO outlook for 2015 at the beginning of this year, we asked: Will consumer businesses face a potential Alibaba hangover in 2015?
 

On the heels of naming a new CEO, Tuesday Morning Corp. has appointed a new finance chief as well.

The company named Stacie Shirley as executive VP, CFO and treasurer, effective January 18, 2016. Most recently, she served as senior VP - finance and treasurer of the Neiman Marcus Group. She started at Neiman Marcus in 2001.

Prior to Neiman Marcus, Shirley served in various positions with CompUSA.

Tuesday Morning recently names a former board member, Steve Becker, as its new CEO.

The strong dollar’s influence on tourism and store traffic led the Neiman Marcus Group to report a decline in same-store sales for the first time in six years.

Top marketers at Neiman Marcus and Home depot were among a group of marketing executives recognized by the CMO Club this week.

The CMO Club, established to celebrate the marketing industry's brightest leaders and to provide a forum to share their successes with other CMOs, determined four winners in various categories.

Neiman Marcus reported modest sales and a reduced loss for fourth quarter as it eyes an initial public stock offering and a bright omnichannel future.

Neiman Marcus posted a net loss of $32.9 million for the fourth quarter, compared to a net loss of $42.1 million in the year ago period.

Revenues at the company’s 43 full-line department stores and 42 Last Call off-price stores increased 4.9% to $1.17 billion. Same-store sales increased 1.9% for the fourth quarter ended Aug. 1.