The Neiman Marcus Group Reports February Revenues
Chestnut Hill, Mass., March 1, 2001 -- The Neiman Marcus Group, Inc. (NYSE: NMG/A, NMG/B) announced the following preliminary company-wide revenues:
4 weeks ended* February 24, 2001 February 26, 2000 % Chg Total Revenues $ 194.0 million $ 191.8 million +1.2% Comparable $ 191.7 million $ 191.8 million +0.0% Revenues 30 weeks ended* February 24, 2001 February 26, 2000 % Chg Total Revenues $ 1,832.3 million $ 1,735.9 million +5.6% Comparable $ 1,820.6 million $ 1,735.9 million +4.9% Revenues *Fiscal year ends July 28, 2001
Comparable revenues in the Specialty Retail Stores segment, which includes Neiman Marcus Stores and Bergdorf Goodman, were 0.4 percent below the four-week period a year ago. Revenue growth was strongest on the East and West coasts. Top performing categories in the four-week period included precious jewelry, men’s shoes, and women’s designer apparel. Manhattan-based Bergdorf Goodman reported double-digit revenue gains at both the Main and Men’s stores in the month.
Comparable revenues in the Direct Marketing segment rose 2.3 percent in the four-week period. Strong increases in Chef’s Catalog and Horchow home furnishings were partially offset by weaker demand for apparel and accessories. The Company’s four-week reporting period, which is consistent with last year, reflects a 4-5-4 week 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.
Director Corporate Relations