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Reuters
Published
Mar 3, 2010
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Neiman Marcus sales, revenue up in February

By
Reuters
Published
Mar 3, 2010


NEW YORK, March 3 (Reuters) - Upscale retailer Neiman Marcus Inc [NMRCUS.UL] reported stronger sales in February, marking the latest sign of the luxury market's recovery.

The Dallas-based department store chain said sales at its stores open at least a year had risen 6.2 percent in February, while overall revenue rose 7.7 percent to $246 million, with highest growth in New York City as well as the West and Southeast regions.

This follows a 6.8 percent same-store sales jump in January.

At its namesake stores and Bergdorf Goodman locations, comparable sales were up 5.1 percent, with jewelry, women's contemporary sportswear, and shoes among the strongest performers.

Comparable sales from Neiman Marcus Direct, its catalog and online division, jumped 11.3 percent in February.

Rivals Saks Inc (SKS.N) and Nordstrom Inc (JWN.N) are expected to report February results on Thursday 4 March, which will show whether they were able to maintain January's momentum, when Saks' comparable sales rose 7 percent and those at Nordstrom rose 14 percent.

Neiman Marcus will report its second-quarter results on March 9. (Reporting by Phil Wahba, editing by Maureen Bavdek)

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