News

Dallas -- Neiman Marcus Group reported a fiscal fourth-quarter loss on debt-related expense and slightly lower margins, even as its revenue rose 11%.

For the quarter ended July 30, Neiman Marcus lost $61.4 million, compared with a year-earlier loss of $32.8 million. Excluding a $42.7 million after-tax loss on debt extinguishment, the adjusted loss was $18.7 million. Gross margin narrowed to 30.5% from 30.9%.

JACKSONVILLE, Fla. — Stein Mart announced that it has partnered with its new ad agency, ArnoldNYC for the launch of "Love at First Find," a national campaign focusing heavily on digital and social engagement. The integrated effort – consisting of digital, social media, TV, print and radio – stars real Stein Mart customers with the goal of fostering an online community of fans via Facebook and Stein Mart's website, the company reported. The campaign is the first work from ArnoldNYC since being named Stein Mart's agency of record in June.

CINCINNATI — Macy's Inc. has announced the launch of a series of technology innovations in its Macy's and Bloomingdale's stores and websites designed to improve shopper experience.

Minneapolis -- Best Buy Co. reported Tuesday that net income for the quarter ended Aug. 27 plummeted 30% to $177 million from $254 million a year earlier, missing Wall Street expectations.

Uniqlo is popping-up all over Manhattan. As the prelude to the opening of its Fifth Avenue global flagship in October, the Japanese apparel retailer opened four temporary “Brand Shops” around the city. Each location is cleverly designed and smartly outfitted.

MINNEAPOLIS — Earnings and comparable-store sales slipped at Best Buy, where the retailer suffered slower sales in key departments and a slowdown in consumer spending. Best Buy  has reported net earnings of $177 million, or 47 cents per diluted share, for its fiscal second quarter ended Aug. 27, compared with $254 million, or 60 cents per diluted share, for the prior-year period.

Winston-Salem, N.C. — Family Dollar Stores has found itself a way to better understand how customers respond to its in-store displays and promotions, and how they can be improved to generate more sales. The discount retailer has engaged RockTenn, manufacturer of consumer packaging solutions and BVI Networks, a provider of real-time in-store monitoring, to open the first large format "ShopperGauge" branded retail learning lab at Family Dollar Stores.

DALLAS — While the still struggling economy may have rendered most Americans cautious spenders, such luxury retailers as Neiman Marcus remain resilient. The company reported that total revenues for the fourth quarter were $919.7 million compared with $826.3 million for the prior year. Comparable revenues increased 11%. Operating earnings for the fourth quarter of fiscal year 2011 were $17.5 million compared with $4.5 million for the fourth quarter of fiscal year 2010.