Neiman Marcus Group reports increase in sales in 2Q 2019

RetailME Bureau

The American chain of luxury department stores, Neiman Marcus Group LTD LLC recently reported financial results for the second quarter ended January 26, 2019. The company reported total revenues of $1.39 billion, representing an increase in comparable sales of 0.7% from the same quarter a year ago.

“Our second quarter results reflect our sixth consecutive quarter of comparable sales increases. The stabilisation of our business continues as we work deliberately to transform Neiman Marcus Group into a luxury customer platform, fuelled by technology, innovation and supported by seasoned and talented executives who are laser-focused on this mission,” says Geoffroy van Raemdonck, CEO, Neiman Marcus Group.

During the quarter, the company, however, reported a net loss of $29 million compared with net earnings of $372.5 million for the second quarter of fiscal year 2018.

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