Neiman Marcus Group reported a 7.6% drop in direct marketing revenue in October, the second straight month of declining sales in the category.
This contributed to a 6.1% falloff in DM sales for the first quarter of fiscal 2002.
The retailer also reported a 7% revenue decline in October–to $238 million–compared with the same four-week period last year.
Comparable revenue fell by 9.7% for the firm’s specialty retail stores, including Neiman Marcus stores and Bergdorf Goodman.
“Given the present retail environment, we continue to take the necessary steps to align our merchandise and expense plans with these current business conditions,” said Burton M. Tansky, CEO.
Direct marketing revenue fell by 9.1% in September. However, DM sales rose by 7% in August in the face of an overall revenue decline for the company.
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