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Neiman Marcus swings to Q2 profit, boosted by sales from German acquisition


Dallas -- Neiman Marcus Group swung to a profit in the second quarter, helped by a 15% increase in online sales and its acquisition of Germany luxury online retailer MyTheresa.

The upscale retailer reported a profit of $27.8 million in the quarter ended Jan. 31, compared with a loss of $84.0 million in the year-ago period. (Neiman’s loss last year was partially credited to expenses related to

Revenue grew to $1.52 billion from $1.43 billion in the prior-year period. Same-store sales and online sales rose 5.6%.

It was the first quarter to include MyTheresa, which Neiman Marcus acquired in fall 2014. The Munich, Germany-based company had sales of $35.8 million in the second quarter.

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