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Report: Victoria’s Secret set to debut in Russia
Moscow -- Multiple sources in Moscow on Wednesday said that Victoria’s Secret will open its first Russian store in Moscow on Sept. 30.
According to local paper Vedomosti Business Daily, experienced American brand franchisee Moneks will open four Victoria’s Secret stores in and around Moscow prior to year’s end.
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Taste for luxury remains at Neiman Marcus
DALLAS — While the still struggling economy may have rendered most Americans cautious spenders, such luxury retailers as Neiman Marcus remain resilient. The company reported that total revenues for the fourth quarter were $919.7 million compared with $826.3 million for the prior year. Comparable revenues increased 11%. Operating earnings for the fourth quarter of fiscal year 2011 were $17.5 million compared with $4.5 million for the fourth quarter of fiscal year 2010.