Neiman Marcus Group

Dallas -- Neiman Marcus Group swung to a profit in the second quarter, helped by a 15% increase in online sales and its acquisition of Germany luxury online retailer MyTheresa.

The upscale retailer reported a profit of $27.8 million in the quarter ended Jan. 31, compared with a loss of $84.0 million in the year-ago period. (Neiman’s loss last year was partially credited to expenses related to

Revenue grew to $1.52 billion from $1.43 billion in the prior-year period. Same-store sales and online sales rose 5.6%.

Neiman Marcus is taking omnichannel retailing to a whole new level by integrating payment technology into its already successful store app.

The NM Mobile Wallet is the first deployment of a mobile wallet capability created specifically for a retail card partner, enabling customers to quickly and easily make in-store purchases at Neiman Marcus Group stores without their physical credit card. Consumers can enjoy this simplified payment function with transaction authorization and information technology supported by Capital One.

New York -- Neiman Marcus is testing interactive mirror technology at its store in Walnut Creek, Calif., that enables shoppers to see how they look in different outfits at the same time. The luxury retailer is set to pilot the technology in two additional locations, including its store in San Francisco.

The digital innovations keep coming at Nieman Marcus, where the luxury retailer has introduce a new concept called the MemoryMirror.

Dallas – “Table commerce” (or perhaps “t-commerce”) is not a widely recognized channel of customer engagement, but The Neiman Marcus Group just may change that. Neiman Marcus is piloting three interactive tables from T1Visions in its Austin, Chicago, and Topanga, California, locations.

Omnichannel access to the best merchandise in the world is the objective behind a new digital initiative at Neiman Marcus that has the retail embedding high resolution screen in shoe department tables.

The upscale department store operator worked with touchscreen technology provider T1Visions to create the interactive retail tables which are now live at Neiman’s Austin, Chicago and Los Angeles area stores.

Fort Worth, Texas - Simon will partner with Cassco Development Co. to develop the first phase of retail on the Edwards Ranch in Fort Worth into an approximately 500,000-sq.-ft. shopping destination. The Shops at Clearfork will be anchored by Neiman Marcus and include 100 high-end specialty stores, a premium luxury theater, and distinctive restaurants.     

Karen Katz, president and CEO of Neiman Marcus Group, has been appointed to the board of directors of Under Armour Inc.

Dallas -- Neiman Marcus Group has signed an agreement to acquire the German luxury fashion e-commerce site  Mytheresa.com and Theresa, its flagship Munich store from Christoph and Susanne Botschen and Acton Capital Partners. The transaction is expected to close later this year.

New York -- The department store wars are sure to heat up in Manhattan with the announcement that Neiman Marcus is coming to the Big Apple. The luxury retailer will open its first-ever location in Manhattan, in 2018. The 250,000-sq.-ft. three-level store will help anchor the new Hudson Yards development, a multi-use project located on the city's West Side, between 30th and 34th Streets.