Neiman Marcus swings to Q3 profit, but same-store sales slow

Dallas — Neiman Marcus Group posted a profit of $19.8 million for the third quarter, compared with a year-earlier loss of $8 million. (The quarter included a $16 million charge for amortization of intangible assets, compared with a $36 million charge a year earlier.)



Revenue for the period ended May 2 grew to $1.22 billion from $1.16 billion in the year-ago period, boosted by Neiman’s acqusition of luxury online retailer MyTheresa in fall 2014.



Same-store sales rose a less than expected 2.2%. The company said currency exchange rates put pressure on sales in the first quarter as the company reported a smaller than expected boost in same store sales.



The retailer said same store sales increased 2.2% for the third quarter ended.