NEW YORK — A shaky economy and inclement weather kept the luxury customer at arm’s length, forcing Neiman Marcus Group to reduce prices to clear mounting inventories and leading to lower third-quarter profits.
Although the company said inventory-related markdown pressures will continue into the current fourth quarter, Burt Tansky, president and chief executive, said sales trends appear to be improving.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)