The Neiman Marcus Group, Inc. reported that total revenues increased 10.1% to $236 million for the period ended January 29, 2005, compared to $214 million for January last year. Comparable store revenues rose 12.2%.
13 weeks ended
(2nd Fiscal Quarter)
January 29, January 31,
2005 2004 % Change
------------------- ------------------- ---------
Total Revenues $1,129 million $1,048 million 7.7%
Comparable Revenues $1,123 million $1,017 million 10.4%
Comparable revenues for both the four weeks and quarter ended Jan. 29, 2005, and Jan. 31, 2004, exclude the sales of Chef’s Catalog prior to its disposition in November 2004.
In the four-week January period, comparable revenues in the Specialty Retail Stores segment, which includes Neiman Marcus stores and Bergdorf Goodman, increased 11.9 percent. Revenue growth trends were the strongest in the Company’s stores in the West and Southeast. Top merchandise categories were contemporary sportswear, fine apparel, women’s shoes, fur and men’s shoes.
Comparable revenues at Neiman Marcus Direct for the four-week January period increased 18.2%. In the direct-to-consumer business, the top merchandise categories were women’s apparel, women’s shoes, handbags and furniture and rugs.
Comparable revenues for the Neiman Marcus Group for the second quarter of fiscal year 2005 increased 10.4%. For the second quarter of fiscal year 2005, Specialty Retail Stores comparable revenues increased 9.6% which represents a comparable revenue increase of 9.0% at Neiman Marcus Stores and 14.5% at Bergdorf Goodman. Neiman Marcus Direct second quarter fiscal year 2005 revenues were 15.8% above last year.
The Company currently expects earnings in the range of $1.37 to $1.42 per share for the second quarter of fiscal year 2005. The Company currently expects comparable store revenues for the third quarter of its fiscal year 2005 to increase in the range of 3 percent to 5 percent compared to last year versus the third quarter of fiscal year 2004 comparable revenue increase of 22 percent.
