-
eBay launches virtual outlet mall
San Jose, Calif. -- Online auctioneer eBay said Monday it has launched a virtual outlet mall in the United States it is calling Fashion Outlet.
The virtual mall will allow users to access discounted apparel and accessories across brands and retailer banners. Featured brands and banners include BCBG, Neiman Marcus, Brooks Brothers, Last Call and Timberland.
According to eBay’s head of global fashion Miriam Lahage, the company is leveraging the burgeoning popularity of the outlet category as the fastest-growing retail channel.
-
Neiman Marcus Q4 loss widens on debt-related expense as sales rise 11%
Dallas -- Neiman Marcus Group reported a fiscal fourth-quarter loss on debt-related expense and slightly lower margins, even as its revenue rose 11%.
For the quarter ended July 30, Neiman Marcus lost $61.4 million, compared with a year-earlier loss of $32.8 million. Excluding a $42.7 million after-tax loss on debt extinguishment, the adjusted loss was $18.7 million. Gross margin narrowed to 30.5% from 30.9%.