BizBuzz

BizBuzz

Longview News-Journal business editor Mike Elswick, fickle fleeting fingers racing across his keyboard, updates East Texans on business and consumer issues affecting them and the region in his blog -- BizBuzz. Mike, a self-professed business news junkie, joined the News-Journal staff in March 1984 and has covered a variety of issues, events and personalities in that time. His newspaper career has also included time as circulation director and a community newspaper publisher. He and his wife Nancy raised their three children in Longview and they have two grandchildren.

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Mike Elswick's business coverage

Home > BizBuzz > Archives > 2008 > May > 08 > Entry

Neiman’s luxury sales decline

By Mike Elswick | Thursday, May 8, 2008, 01:06 PM

I’m not sure if it’s a sign that even the rich among us are cutting back on spending, but Neiman Marcus on Thursday reported a 3.6 percent drop in sales. The figure is for the four weeks ending April 26 compared to the same period in 2007 for its specialty store segment that includes Neiman Marcus and Bergdorf Goodman stores.

The company operates a national distribution facility in Longview Business Park where several hundred workers are employed.

For the company’s third fiscal quarter ending April 26 total revenues were down about 1 percent. Neiman Marcus reported total revenues of $1.062 million for the period compared to $1.073 million a year earlier.

The company did report that revenue growth was strongest at the company’s stores in Texas and New York City. Quarterly comparable revenues for the parent company’s Neiman Marcus Stores dropped 4.4 percent.

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