Wednesday, June 15, 2016

Luxury department store reports decline in sales and profit

The combination of a cool spring and the continued pullback in luxury apparel spending took a toll on Neiman Marcus Group in the company’s third quarter. 
The department store retailer’s profit plunged 80% in the period ended April 30, down to $3.8 million from $19.8 million in the year-ago period. Same-stores sales fell 5%.. . . more

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