News
« Europe, Asia Boost Tiffany's Q1 Income | | Bonwit Teller Plans A Comeback »
June 05, 2008
Neiman's Earnings Fall 7% On Slow Sales
Neiman Marcus is feeling the pinch from the U.S. economic slowdown. The department store’s earnings dropped 7% in the last quarter to $55.4 million while sales fell 1% to $1.06 billion.
Although the last quarter was rough, the retailer is holding out hope that early fall deliveries and light-colored spring goods will spur sales in the months ahead. Early fall goods generally sell well, and light colored merchandise offer something different for consumers whose closets are packed with dark-colored clothes.
Posted by Blacks on June 5, 2008 09:45 AM
