Neiman Marcus Inc.’s comparable-store sales fell 24.4 percent in January, a slight improvement from December’s 27.5 percent decline but more evidence the luxury sector is being hit by the downturn as much as any other.
The unexpectedly severe luxe pullback has the company projecting a loss for its second quarter ended Jan. 31. Comps for the three months decreased 22.8 percent to $1.06 billion, while total revenues were off 21.4 percent to $1.08 billion. The company, which includes Neiman Marcus and Bergdorf Goodman, is privately owned but reports quarterly results because it has public debt.
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