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Neiman Marcus Profit Nearly Triple in 1q

(Filed Under Financial and General Interest News). This fall, the luxury shopper came home to Neiman Marcus.

Neiman Marcus Group Inc., owner of the Neiman Marcus and Bergdorf Goodman high-end retail chains, reported a first quarter profit nearly triple that of last year’s, with operating earnings up 33.4 percent; to $99.8 million from $74.8 million during the third quarter of 2010. Comparable revenues increased 6.4 percent, totaling $927.2 million from $868.9 million the prior year.

Nordstrom Inc. and Saks Inc. also reported improvements this fall, with Nordstrom’s earnings for the third quarter ended October 30, 2010 jumping 42.6 percent, while Saks comparable store sales rose 5 percent during the same third quarter period.

The Neiman Marcus Group currently operates 41 Neiman Marcus stores nationwide and two Bergdorf Goodman stores in New York City, both catering to the affluent consumer. The company also operates 30 Last Call Clearance centers.

more Financial and General Interest News >>

Published 12-09-2010 by Amanda Torres Price

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Neiman Marcus Profit Nearly Triple in 1q

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