Neiman Marcus reports Q4 loss

Dallas Neiman Marcus posted a quarterly loss on Wednesday, as sales suffered through the holiday season at the hands of frugal U.S. consumers.

The luxury retailer posted a net loss of $509.2 million in the fiscal second quarter that ended on Jan. 31, compared with a profit of $44.3 million, a year earlier.

Adjusted for charges, such as a non-cash impairment costs and a pension curtailment gain, Neiman said its loss in the quarter was $32.6 million.

Neiman Marcus, which runs both its namesake and Bergdorf Goodman stores, faced a 21.4% drop in second-quarter sales to $1.08 billion, while same-store sales fell 22.8%.

The retailer has also said that it will cut out or delay some projects to give itself additional liquidity.