86
Fashion Jobs
SHISEIDO
K-Key Account Lead
Permanent · HO CHI MINH CITY
ADIDAS
Senior Director Product Creation Ftw
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Corporate Affairs & Reputation Manager - Corporate Affairs & Engagement
Permanent · HO CHI MINH CITY
JO MALONE LONDON
Education Manager, Jml/lm
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Senior HR Operations Executive/ Assistant Manager
Permanent · HO CHI MINH CITY
ADIDAS
Key Account Manager (Franchise)
Permanent · HO CHI MINH CITY
ADIDAS
Senior Manager, Commercial, Adigolf, Vietnam 1
Permanent · HO CHI MINH CITY
ADIDAS
Key Account Manager 1 (Franchise)
Permanent · HO CHI MINH CITY
COLUMBIA
lo Costing & Engineering Manager
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Category Manager - Cpd
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Business Planning Manager - Cpd
Permanent · HO CHI MINH CITY
ADIDAS
Senior Manager Product Creation (Sportwear)
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Product Manager - Shu Uemura
Permanent · HO CHI MINH CITY
ADIDAS
Manager, Quality Product Integrity
Permanent · HO CHI MINH CITY
TAPESTRY
Manager, Manufacturing Engineer
Permanent · HO CHI MINH CITY
SPECIALIZED
Painting Quality Engineer - Bình Dương, Vietnam
Permanent ·
ON RUNNING
Social Compliance Specialist - Hcm Based
Permanent · HO CHI MINH CITY
ADIDAS
Senior Manager, Sourcing Operations
Permanent · HO CHI MINH CITY
WILLIAMS SONOMA
Wood Sustainability Specialist - (Global)
Permanent · THUẬN AN
PUMA
Manager Quality Apparel & Accessories
Permanent · HO CHI MINH CITY
PUMA
Senior Executive, Finance
Permanent · HO CHI MINH CITY
PUMA
Head of Quality Footwear
Permanent · HO CHI MINH CITY
By
Reuters
Published
Sep 9, 2009
Reading time
2 minutes
Download
Download the article
Print
Text size

Neiman Marcus posts wider fourth quarter net loss

By
Reuters
Published
Sep 9, 2009

SEATTLE, Sept 8 (Reuters) - Upscale retailer Neiman Marcus Inc [NMRCUS.UL] posted a much wider net loss on Tuesday 8 September, as it recorded a noncash impairment charge and faced a steep decline in demand for expensive merchandise.

Neiman Marcus

Like other high-end retailers, Neiman Marcus has faced a deep pullback from well-heeled shoppers in past months and has cut costs and reduced inventory levels to offset weak demand.

But in a possible sign that the decline may not worsen, its peer and upscale jeweler Tiffany & Co (TIF.N) pointed to slightly recovering demand for jewelry late last month, even as it remained cautious about the economy.

Neiman Marcus' net loss was $168.5 million in the fiscal fourth quarter that ended Aug. 1, compared to a net loss of $35.6 million a year ago.

It recorded a noncash pretax impairment charge of $143.1 million in the quarter for the writedown of some assets to fair value, the company said.

On an operating basis, its loss was $192.1 million, compared to a loss of $6.2 million a year ago, Neiman Marcus said.

Sales at Neiman Marcus, which sells pricey designer merchandise in its namesake and Bergdorf Goodman stores, fell to $768.1 million from $1.03 billion a year earlier.

Same-store sales fell 23.4 percent in the quarter.

As of Aug. 1, it had 23 percent less merchandise than a year ago, and cut $183 million in costs, Chief Executive Burton Tansky said in a statement.

Neiman Marcus was acquired by an investor group led by Texas Pacific Group and Warburg Pincus LLC in October 2005. (Reporting by Aarthi Sivaraman in Seattle; Editing by Gary Hill)

© Thomson Reuters 2024 All rights reserved.