The Neiman Marcus Group, Inc. announced the following preliminary Company-wide revenues:
5 weeks ended
April 2, April 3,
2005 2004 % Change
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Total Revenues $350 million $343 million 2.2%
Comparable Revenues $348 million $336 million 3.4%
Comparable revenues for the five weeks ended April 3, 2004 exclude the sales of Chef's Catalog prior to its disposition in November 2004.
The increase in comparable revenues at the Neiman Marcus Group in the five-week March 2005 period was 3.4%, while the increase for the same period last year was 26.3%.
In the five-week March period, comparable revenues in the Specialty Retail Stores segment, which includes Neiman Marcus Stores and Bergdorf Goodman, increased 1.6%. March sales results were negatively impacted by the store closings on Easter Sunday which occurred in March this year compared to April last year. Additionally, sales were negatively impacted by the Company's decision to shift its loyalty program events that occurred in March of last year to April in the current year. The Company experienced the strongest sales trends in its stores located in the Western region. The merchandise categories in the Specialty Retail Stores segment that performed well included women's contemporary sportswear and designer apparel, fashion accessories, men's shoes, beauty and designer jewelry.
Comparable revenues at Neiman Marcus Direct in the five-week March period increased 12.6%. In the direct-to-consumer business, the Neiman Marcus brand experienced the highest year-over-year sales performance, supported by strong sales in women's apparel, women's shoes, accessories and jewelry.
The Company currently expects comparable store revenues for the third quarter of fiscal 2005 to increase in the range of 5% to 6% compared to last year versus the third quarter of fiscal year 2004 increase in comparable revenues of 22%.
