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Neiman Marcus swings to loss in 3Q
Dallas — Neiman Marcus saw adjusted profits slip in the third quarter, even as revenues and comps rose.
For the quarter ended May 3, the company reported a net loss of $2.7 million, compared with net income of $70.8 million in the year-ago period. On an adjusted basis, however, the company reported earnings of $45.1 million compared with $78.7 million last year.
Also in the quarter, the company reported total revenues of $1.16 billion, up from $1.10 billion in the year-ago period. Same-store sales rose 5.9%. -
Decrease in store traffic takes bite out of Neiman Marcus in Q3
Neiman Marcus may have reported total revenues of $1.16 billion for the third quarter, compared to $1.10 billion in the prior year, and a comparable-store sales increase of 5.9%, but the company’s profits took a hit, as traffic to brick-and-mortar stores decreased compared to last year.