Neiman Marcus, Inc. has released the financial results for the first quarter of fiscal 2010. The total reported revenues for the company were $868.9 million, down from the $985.8 million earned during the same period the year before. Operating earnings were $74.8 million, also down from the $81.6 million earned during the first quarter of 2009.
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To listen to a webcast discussing the financial results, visit http://www.neimanmarcusgroup.com/. The webcast and a full financial report will be on the Investor Information section of the site.
Not for the faint of finances, Neiman Marcus department stores offer high-fashion, high-quality women's and men's apparel (from such labels as Chanel and Prada), shoes and accessories, fine jewelry, china, crystal, and silver. The Neiman Marcus Group operates some 40 Neiman Marcus stores in some 20 states and the District of Columbia, as well as two Bergdorf Goodman stores in New York City and some 30 Last-Call clearance centers that sell marked-down goods. Its mail-order business, Neiman Marcus Direct, distributes catalogs (which offer apparel, home furnishings, and gourmet foods) under the Neiman Marcus By Mail and Horchow names. The upscale retailer is owned by a pair of private equity firms.
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