Neiman Marcus Group Inc.: The Chestnut Hill,...

Neiman Marcus Group Inc.: The Chestnut Hill, Mass., retailing concern reported fiscal 1989 profit of $25.3 million. In 1988, the company posted a profit of $4.8 million using a now-discontinued accounting method; its 1988 profit would have been $15.5 million using its new method. Revenue increased 20% in 1989 to $1.5 billion. The firm said earnings for the year were reduced by the inclusion of results from Horchow Mail Order Inc., which had a “disappointing” performance following its acquisition. Each of the company’s other divisions, including Bergdorf Goodman and Contempo Casuals, had “significantly improved results.”