Neiman-Marcus Group’s net advanced 21% to $16.7...

Neiman-Marcus Group’s net advanced 21% to $16.7 million for the second quarter, compared to the same quarter last year. Revenue totaled $375.1 million, up 8% from the 1987 period. The Chestnut Hill, Mass., specialty retailer, which operates Bergdorf Goodman, Contempo Casuals and Neiman-Marcus, said the results reflect lower gross margins; continued investment spending in sales support, sales promotion and customer service areas, and ongoing costs associated with the Carter Hawley Hale Stores restructuring that established the Neiman-Marcus Group as an independent company in August, 1987.

Tables, Page 9