Neiman Marcus, Inc. reported comparable-store sales tumbled 16.9% during September. Total sales were down 14.8% to $354 million from $415 million a year ago.
In the five-week September period, comparable revenues in the Specialty Retail Stores segment, which includes Neiman Marcus Stores and Bergdorf Goodman, decreased 17.6%. Comparable revenues at Neiman Marcus Direct in the five-week September period decreased 13.6%. Performance was the weakest in the home and jewelry categories.
From a liquidity standpoint, the company ended the month of September with approximately $330 million of cash and had no borrowings outstanding under its $600 million asset-based revolving credit facility.
