Neiman Marcus reported an increase in online revenues of 12.5%, which accounted for 36% of the overall business for the fourth quarter. The company reported total revenues of $1.13 billion, representing an increase in comparable revenues of 2.3% from the fourth quarter in 2017.
It reported a net loss of $75.3 million for the fourth quarter, compared to a net loss of $366.3 million in 2017, according to a press release.
“The fourth quarter was in-line with our expectations and marked our fourth consecutive quarter of positive sales increases,” said Geoffroy van Raemdonck, CEO of Neiman Marcus Group in the press release. “We also delivered healthy gross margin performance through lower markdowns and strong inventory management.”
Van Raemdonck said as the company looks to the future, it plans to make long-term investments in technology, supply chain and new customer centric capabilities that will begin to benefit the business in fiscal 2020 and beyond.
“Our multi-year strategic plan is designed to both protect and advance our existing business, while also positioning Neiman Marcus Group for long-term growth,” said van Raemdonck.
For fiscal year 2018, the company reported total revenues of $4.90 billion, representing an increase in comparable revenues of 4.9%.