Neiman Marcus Group has suffered declines in both its retail and direct sales. And it has taken a massive hit to its operating earnings. They totaled $42 million, compared with $87 million last year. The Dallas-based firm reported first-quarter revenue of $681 million, compared with $757 million during the same period last year. Neiman Marcus Direct saw its sales drop to $97 million from $103 million
Neiman Marcus Group has suffered declines in both its retail and direct sales. And it has taken a massive hit to its operating earnings.
They totaled $42 million, compared with $87 million last year.
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The Dallas-based firm reported first-quarter revenue of $681 million, compared with $757 million during the same period last year.
Neiman Marcus Direct saw its sales drop to $97 million from $103 million during the first quarter of 2000.
Comparable revenue fell by 10.9% during the quarter.
The firm is trying to "reduce expenses and aggressively work with our vendor partners to formulate strategies to manage our vendor partners to formulate strategies to manage our inventories and on-orders," said CEO Burton M. Tansky in a statement.
