Neiman Marcus Reports Sixth Sales Increase in a Row, but Barely
Neiman Marcus is opening its first Manhattan store on Friday, and it prefaced the move with a positive earnings report. The retailer said its holiday quarter sales went up 0.7 percent, the sixth quarter in a row of gains. However, it’s a very slim margin compared to the previous five quarters, signaling that the retailer’s momentum may be slowing. But CEO Geoffroy van Raemdonck called it a “period of stabilization.”
Van Raemdonck has said previously that second half of 2018 comparisons were going to be tougher than the beginning of the year. The current quarter was up against the company’s 6.7 percent increase in the holiday quarter of 2017.
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