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Neiman Marcus Sees July Revenue Rise

DALLAS (AP) – Upscale retailer Neiman Marcus Inc. said Thursday that revenue for Neiman Marcus and Bergdorf Goodman stores open at least a year rose 6.5 percent, benefiting from strong sales of designer handbags, shoes and women’s contemporary sportswear.

Other strong sellers included evening wear, beauty products and men’s goods as Neiman’s well-heeled shoppers continued to spend.

Revenue at stores open at least a year is a key gauge of a retailer’s health because it excludes stores that recently opened or closed.

Total revenue for the period ended July 30 increased 7.9 percent to $244 million.

Fourth-quarter revenue for Neiman Marcus and Bergdorf Goodman stores open at least a year gained 11 percent, with total revenue up 11.3 percent to $920 million.

For the year to date, revenue for Neiman Marcus and Bergdorf Goodman stores open at least a year climbed 7.5 percent. Total revenue climbed 8.4 percent to $4 billion.

(© Copyright 2011 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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