As New York Fashion Week approaches, results from Neiman Marcus Inc. suggest that things aren’t great in the designer apparel sector.
This story first appeared in the February 1, 2013 issue of WWD. Subscribe Today.
On Thursday, Neiman Marcus Inc. reported that for its second quarter ended Jan. 26, total revenues rose 6.5 percent to $1.36 billion, from $1.28 billion in the year-ago period. Comparable revenues rose 5.3 percent.
Women’s contemporary sportswear and shoes, designer handbags, designer jewelry and men’s wear paced the business at the luxury retailer’s stores. However, designer apparel was not among the best sellers. The retailer did not provide specifics.
Neiman’s online business in the quarter increased 17.9 percent on a comparable revenue basis and was paced by women’s contemporary sportswear and shoes, handbags, jewelry and men’s wear, but not designer apparel. Comparable revenues in the specialty store segment alone, which includes the Neiman Marcus, Bergdorf Goodman and Last Call stores, rose just 2 percent. Store revenues were strongest in the Southeast and Texas, the company said.
During Neiman’s first quarter, which ended Oct. 27, similar sales trends were evident. Neiman’s previously reported that in the stores, women’s contemporary sportswear, shoes, handbags, jewelry and men’s wear were best-selling categories. Online, handbags, jewelry, beauty and men’s wear were bestsellers. Neiman’s fiscal year concludes at the end of July.