The Neiman Marcus Group Reports January Revenues
4 weeks ended* January 27, 2001 January 29, 2000 % Chg Total Revenues $ 177.5 million $ 166.0 million +6.9% Comparable $ 175.2 million $ 166.0 million +5.5% Revenues 26 weeks ended* January 27, 2001 January 29, 2000 % Chg Total Revenues $ 1,638.2 million $ 1,546.4 million +5.9% Comparable $ 1,628.9 million $ 1,546.4 million +5.3% Revenues
Comparable revenues in the Specialty Retail Stores segment, which includes Neiman Marcus Stores and Bergdorf Goodman, rose 4.4 percent in the four-week period. Revenue growth was geographically balanced, and ten Neiman Marcus stores reported double-digit percentage gains over the prior-year period. Several categories -- including fine apparel, intimate apparel, gifts, men’s shoes, and men’s clothing -- also posted double-digit increases. At Manhattan-based Bergdorf Goodman, revenue gains at the Main and Men’s stores were more than offset by planned lower magalogue sales in the period compared to last year, reflecting the shift to a drive-to-store marketing strategy. Comparable revenues in the Direct Marketing segment rose 11.3 percent in the four-week period on strong increases in Chef’s Catalog and Horchow home furnishings, with 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.