Neiman Marcus Reports Its Sixth Sales Increase in a Row, But Momentum Slowed During the Holiday

As it prepares to open its first store in Manhattan on Friday, Neiman Marcus said its holiday quarter sales increased 0.7 percent, enough to keep a six-quarter streak going, but falling short of prior gains.Chief executive officer Geoffroy van Raemdonck said characterized the quarter ended Jan. 26 as another period of stabilization.Van Raemdonck has said previously that second half of 2018 comparisons were going to be tougher than the beginning of the year. The current quarter was up against the company's 6.7 percent increase in the holiday quarter of 2017.The pace of online sales growth also slowed to a gain of 5.2 percent to $433.4 million during the holiday quarter.   Continue reading...

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