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Neiman Marcus Says Strong Sales Lift Q3

DALLAS (AP) – Neiman Marcus Inc.’s fiscal third-quarter net income increased 13 percent on stronger sales at the luxury retailer — especially online sales.

The Dallas-based privately-held company on Tuesday reported it earned $70.8 million for the period that ended April 27 versus $62.6 million last year. The latest quarter includes a debt-extinguishment loss of $9.4 million.

Its total revenue increased to $1.10 billion from $1.06 billion.

Neiman Marcus says revenue from stores open at least a year increased 3.6 percent.

The company runs Neiman Marcus, Bergdorf Goodman and Last Call stores. It also offers online and catalog sales. Officials say the company has benefited from upscale shoppers spending more on luxury goods.

(© Copyright 2013 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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