E-commerce propels profits for Neiman Marcus

Neiman Marcus got a boost in the second quarter from its October purchase of mytheresa.com, a German luxury e-retailer.

For the 13 weeks ended Jan. 31, the company reported a profit of $27.8 million, compared with a year-earlier loss of $84 million. Revenue grew to $1.52 billion from $1.43 billion in the prior-year period. Sales at stores open more than a year and online rose 5.6%.

In October, Neiman Marcus LLC acquired MyTheresa, a luxury retailer headquartered in Munich, Germany. The operations of MyTheresa are primarily conducted through the MyTheresa.com global luxury website. The website’s revenue for the 26 weeks ended Jan. 31 was $35.8 million.

The Dallas-based company operates 41 Neiman Marcus stores across the United States and two Bergdorf Goodman stores in Manhattan. The company also operates 28 Last Call clearance centers.

In September, Neiman Marcus LLC announced that it would be opening a 250,000-square-foot Neiman Marcus store in Hudson Yards, in a new retail complex being developed by Related Companies on the west side of Manhattan. The store is scheduled to open in 2018.