Sales Slump Continues at Neiman Marcus

January revenue down more than 23%

Dallas retailer Neiman Marcus reported its January revenue dropped 23%.

The upscale retailers said Tuesday it expect to post a net loss for its fiscal second quarter.

"We currently anticipate a significant decrease in our gross margins and a delivering of expenses caused by the decline in revenues," Chief Executive Burton Tansky said in a statement.

While it continues to evaluate its capital expenditure plans for fiscal 2009, Tansky said the company would delay or eliminate some projects to hand it additional liquidity.

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