Neiman Marcus’ Q4 loss deepens

Dallas Neiman Marcus on Tuesday reported a large fourth-quarter net loss as it recorded a noncash impairment charge and faced a steep decline in demand for its luxury goods.

Neiman’s posted a fourth-quarter loss of $168.5 million, compared with a $35.6 million loss in the year-ago period.

Sales fell to $768 million, from $1.03 billion; same-store sales were down 23.4%. The quarter included the recording of a $143.1 million pre-tax impairment charge.