NM Direct Quarterly Sales Up Despite Absence of Chef’s Catalog

Dallas-based Neiman Marcus Group (NYSE: NMG.A) netted $80 million on sales of $933 million for the quarter ended April 30. That’s a 16% rise in net income and a 7% bump in revenue from the comparable quarter of last year.

Year-over-year sales at Neiman Marcus Direct, which consists of the Neiman Marcus and Horchow print and online catalogs, grew 3%, to $130 million from $126 million last year. And that gain came despite NM Direct having one fewer catalog in its stable this year, following the November sales of Chef’s Catalog. On a comparable basis, excluding Chef’s Catalog from last year’s quarterly revenue, year-over-year direct sales increased 17%. Operating earnings for the direct division increased to $17 million from $10 million a year ago.

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