November 2023

Neiman Marcus Group, confronting a volatile macro economy and increasingly cautious consumers, saw a dip in each revenues and profitability in its first fiscal quarter which ended Oct.28. Adjusted earnings before interest, taxes, depreciation and amortization, eased to $95 million in the most recent three-month period, versus $112 million within the prior-year period, the corporate disclosed to WWD on Wednesday. The luxurious retailer, operator of Neiman Marcus and Bergdorf Goodman stores and e-commerce web sites, also reported $948 million in sales for its last fiscal quarter, in comparison with $1.034 billion within the prior 12 months. Same-store sales fell 8 percent last quarter. The corporate ended the quarter with $35 million of money, versus $194 million within the prior-year period. “The decline in...