Slowdown Tag
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...
Continue reading
PARIS — LVMH Moët Hennessy Louis said it was cautiously confident heading into 2023 after revenues rose 15 percent within the fourth quarter, fueled by its key fashion and leather goods division and selective retailing.
The French luxury goods giant, which owns brands including Louis Vuitton, Dior, Sephora and Tiffany & Co., reported revenues of twenty-two.7 billion euros within the three months to Dec. 31, in keeping with consensus forecasts. This represented an increase of 9 percent at constant exchange rates, down from the 19 percent recorded within the third quarter.
“With the month of January having began well and despite an uncertain geopolitical and economic environment, LVMH is confident in its ability to proceed the expansion observed in 2022,” the group...
Continue reading
