Strong same-store and specialty store sales fuel Neiman Marcus’ profits

Neiman Marcus Group Inc. reported that same-store sales rose 7.7% in February, fueled by strong sales in its Specialty Retail Stores segment.

The Dallas-based luxury retailer said total sales for the month rose 6.5% to $275 million from $258 million in the same period a year ago.

Same-store sales at Neiman Marcus Stores and Bergdorf Goodman (its Specialty Retail Segment) rose 6.6%.

Neiman Marcus Direct, the company’s direct marketing segment, reported an increase of 20.2% in same-store sales. The increase was boosted by sales of women’s contemporary sportswear and dresses, jewelry and women’s shoes and handbags.

Neiman Marcus Group also reported that second-quarter earnings rose 19%, again because strong performance from its specialty retail group and higher same-store sales.

The company’s quarterly profit totaled $70.6 million, up from $59.2 million a year earlier.

Revenue increased 8% to $1.13 billion from $1.05 billion, helped by growth from specialty retail stores.

Second-quarter revenue from specialty retail stores rose about 10% to $912 million, while comparable revenue increased 9.6%.

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