The Neiman Marcus Group Reports May Revenues
CHESTNUT HILL, Mass.--(BUSINESS WIRE)--May 31, 2001--The Neiman Marcus Group, Inc. (NYSE: NMG.A, NMG.B) announced the following preliminary company-wide revenues:
4 weeks ended(a) May 26, 2001 May 27, 2000 % Chg ------------ ------------ ----- Total Revenues $ 214.0 million $ 204.0 million +4.9% Comparable Revenues $ 212.7 million $ 204.0 million +4.2% 43 weeks ended(a) May 26, 2001 May 27, 2000 % Chg ------------ ------------ ----- Total Revenues $ 2,536.0 million $ 2,432.1 million +4.3% Comparable Revenues $ 2,517.7 million $ 2,432.1 million +3.5% (a) Fiscal year ends July 28, 2001
In the four-week period, comparable revenues increased 3.9 percent in the Specialty Retail Stores segment, which is comprised of Neiman Marcus stores and Bergdorf Goodman. Revenue growth was strongest on the East and West coasts. Top performing divisions included men's sportswear, clothing, furnishings, and shoes; and women's fine apparel, contemporary sportswear, and shoes.
Comparable revenues in the Direct Marketing segment increased 6.6 percent in the period with particular strength in the Horchow division.
The Company's four-week reporting period is consistent with last year and reflects a 4-5-4 week fourth 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.
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|Director, Corporate Relations|