The Sept. 11 terrorist attacks aggravated an already disappointing month for Neiman Marcus Group.
The Dallas-based retailer saw its comparable revenue fall by 19.5%, to $248.6 million, compared with the same five-week period last year. Direct marketing revenue fell by 9.1%.
Comparable revenue in the specialty retail stores segment, which includes Neiman Marcus Stores and Bergdorf Goodman, declined by 21.2%. The hardest-hit merchandise categories were women’s contemporary sportswear and cosmetics.
Sales were particularly soft at Bergdorf Goodman in Manhattan.
The firm cited a significant decline in consumer spending since Sept. 11. Prior to that, the company had faced a mid single-digit decline. And there may be more bad news.
“While it is now clear that first quarter results will be below previous guidance, given the uncertain economic and political events which continue to unfold worldwide, we cannot provide further guidance at this time,” said CEO Burton M. Tansky in a statement.
He added that Neiman Marcus is “adjusting our purchases, examining our marketing activities, reviewing our expense structure, and reconsidering our capital expenditure plans.”
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