3 November 2021
The Weekly
United States

Neiman Marcus Group disclosed that fiscal fourth-quarter financial figures surpassed their expectations. There was 6% comp growth in revenues on a 21% decline in inventory, compared to the fourth quarter in 2019. There was true full-price selling, which resulted in margin expansion of 8%, and ultimately, adjusted EBITDA was 10% of revenues. Compared to 2019, the company is growing and was profitable in that quarter. Since March 2020, Neiman Marcus and its leaders have been emphasizing efforts to further a full-price positioning after several seasons of pumped up promoting. A year ago, Neiman’s completed its exit from the off-price business. Twenty-two Last Call stores were closed, and only five remain open, though those are just for clearance, not for off-price merchandise. During the fiscal fourth quarter, the average order value improved 13% compared to the third quarter, due to customers shopping more at full price and more expensive items as well. Men’s wear, specifically men’s designer and contemporary areas, performed best at Neiman Marcus during this quarter, followed by women’s shoes, handbags and jewellery. Sneaker business was extremely strong. Neiman’s started its holiday campaign on Tuesday with the launch of its Neiman Marcus Christmas Book.