2010 JAN 23 - (VerticalNews.com) -- Neiman Marcus, Inc. announced the following preliminary company-wide revenues for December 2009.
5 weeks ended
January 2, 2010
January 3, 2009 % Change
Total Revenues
$556 million
$525 million
6.0%
Comparable Revenues
$548 million
$524 million
4.5%
In the five-week December period, comparable revenues in the Specialty Retail Stores segment, which includes Neiman Marcus Stores and Bergdorf Goodman, increased 4.9 percent. Revenue growth trends were the strongest in the Company's stores in the Southeast and New York City. The merchandise categories in the Specialty Retail Stores segment that performed the strongest included women's fine apparel, designer handbags, shoes, men's clothing and precious jewelry.
Comparable revenues at Neiman Marcus Direct in the five-week December period increased 3.2 percent. The merchandise categories in the Direct Marketing segment that performed the strongest included women's fine apparel, shoes, jewelry and handbags.
From a liquidity standpoint, the Company's cash balance as of January 2, 2010 was approximately $595 million compared to $330 million in the prior year. In addition, the Company had no borrowings outstanding under its $600 million asset-based revolving credit facility.
The Company's five-week reporting period is consistent with last year and reflects a 4-5-4 week second quarter.
Neiman Marcus, Inc. operations include the Specialty Retail Stores segment and the Direct Marketing segment. The Specialty Retail Stores segment consists primarily of Neiman Marcus and Bergdorf Goodman stores. The Direct Marketing segment conducts both online and print catalog operations under the Neiman Marcus, Horchow and Bergdorf Goodman brand names. Information about the Company can be accessed at www.neimanmarcusgroup.com.
From time to time, the Company may make statements that predict or forecast future events or results, depend on future events for their accuracy or otherwise contain "forward-looking information." These statements are made based on management's expectations and beliefs concerning future events and are not guarantees of future performance.
The Company cautions readers that actual results may differ materially as a result of various factors, some of which are beyond its control, including but not limited to: political or economic conditions; terrorist activities in the United States and elsewhere; disruptions in business at the Company's stores, distribution centers or offices; changes in consumer confidence resulting in a reduction of discretionary spending on goods; changes in demographic or retail environments; changes in consumer preferences or fashion trends; competitive responses to the Company's marketing, merchandising and promotional efforts; changes in the Company's relationships with key customers; delays in the receipt of merchandise; seasonality of the retail business; adverse weather conditions, particularly during peak selling seasons; delays in anticipated store openings or renovations; natural disasters; significant increases in paper, printing and postage costs; litigation that may have an adverse effect on the Company's financial results or reputation; changes in the Company's relationships with designers, vendors and other sources of merchandise; the Company's success in enforcing its intellectual property rights; the effects of incurring a substantial amount of indebtedness under the Company's senior secured credit facilities, senior notes and senior subordinated notes and of complying with the related covenants and conditions; the financial viability of the Company's designers, vendors and other sources of merchandise; the design and implementation of new information systems or enhancement of existing systems; changes in foreign currency exchange rates or inflation rates; impact of funding requirements related to the Company's noncontributory defined benefit pension plan; changes in the Company's relationships with certain of key sales associates; changes in key management personnel; changes in the Company's proprietary credit card arrangement that adversely impact its ability to provide consumer credit; or changes in government or regulatory requirements increasing the Company's cost of operations.
Keywords: Advertising, Currency Exchange Rate, Data Management, Data Systems, Department Stores, Finance, Financial, Information Systems, Information Technology, Investing, Investment, Marketing, Neiman Marcus Inc., Retail
Joesnewbalanceoutlet Coupon, Joesnewbalanceoutlet Coupons, Joesnewbalanceoutlet Coupon Codes, Joesnewbalanceoutlet Promotion, Joesnewbalanceoutlet Promotional, Joesnewbalanceoutlet Promo Code, Joesnewbalanceoutlet Discount
