Neiman Marcus Group: The Chestnut Hill, Mass.,...
From Times Staff and Wire Reports
Neiman Marcus Group: The Chestnut Hill, Mass., upscale retail chain said its fiscal year 1990 earnings rose 11.8% to $28.2 million on revenue of $1.69 billion, up 15.1%, from the previous year. The company lost $6.2 million in the fourth quarter ended Aug. 4, double that of the year-ago quarter, even though revenue rose 9.7% to $377.7 million. The firm said physical expansion and improvements had increased the competitive position in its three operating units--Neiman Marcus, Bergdorf Goodman and Contempo Casuals--and increased their market shares. Its Horchow Mail Order unit, however, posted a $20-million operating loss.
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