The Neiman Marcus Group Reports April Revenues
CHESTNUT HILL, Mass.--(BUSINESS WIRE)--May 3, 2001--The Neiman Marcus Group, Inc. (NYSE:NMG.A - news, NMG.B - news) announced the following preliminary company-wide revenues:
4 weeks ended(a) April 28, 2001 April 29, 2000 % Chg -------------- -------------- ----- Total Revenues $ 235.5 million $ 228.0 million +3.3% Comparable Revenues $ 233.3 million $ 228.0 million +2.3% 39 weeks ended(a) April 28, 2001 April 29, 2000 % Chg -------------- -------------- ----- Total Revenues $ 2,322.6 million $ 2,230.3 million +4.1% Comparable Revenues $ 2,305.7 million $ 2,230.3 million +3.4% (a)Fiscal year ends July 28, 2001
Comparable revenues in the Specialty Retail Stores segment increased 2.7 percent in the four-week period. Additional marketing activities undertaken by Neiman Marcus Stores and Bergdorf Goodman contributed to revenue gains by both retailers in the period. Top performing categories included designer sportswear, contemporary sportswear, designer handbags, designer jewelry, and precious jewelry. Revenue growth was strongest in the Northeast.
Direct Marketing segment comparable revenues declined by 1.4 percent in the period, with strength in Chef's Catalog more than offset by a planned shift this fiscal year in core catalog mailings from April to March.
The Company's four-week reporting period, which is consistent with last year, reflects a 4-5-4 week third quarter and 52-week year. The Company expects to add a fifty-third week at the end of fiscal 2002.
The Neiman Marcus Group includes the Specialty Retail Stores segment, which consists of Neiman Marcus Stores and Bergdorf Goodman, and Neiman Marcus Direct, the direct marketing operation.
Information about the company can be accessed at www.neimanmarcusgroup.com.
Statements in this release referring to the expected future plans and performance of the Company are forward-looking statements. Actual future results may differ materially from such statements. Factors that could affect future performance include, but are not limited to: changes in economic conditions or consumer confidence; integration of acquired businesses; changes in consumer preferences or fashion trends; delays in anticipated store openings; adverse weather conditions, particularly during peak selling seasons; changes in demographics or retail environments; competitive influences; significant increases in paper, printing and postage costs; and changes in the Company's relationships with designers and other resources. For more information, see the Company's filings with the Securities and Exchange Commission. The Company undertakes no obligation to update or revise any forward-looking statements to reflect subsequent events or circumstances.
Neiman Marcus Group, Inc.
Jonna Manes, Director, Corporate Relations