Neiman Marcus Warns of 4th-Quarter Loss

Neiman Marcus Group Inc. warned that it will post a quarterly loss and full-year earnings below analysts’ expectations because of lower fourth-quarter revenue and steep markdowns.

The operator of high-end department stores said it now expects to post a loss of 10 cents to 15 cents a share in its fourth quarter, ended July 28, contrasted with Wall Street’s consensus estimate of a profit of 10 cents. The firm reported earnings of 21 cents in the year-earlier period.

The company said it also expects to post fiscal 2001 earnings in the range of $2.50 to $2.55 a share, falling short of the current consensus analysts’ estimate of $2.75 a share, according to First Call.

The company’s shares fell 56 cents to close at $33.74 on the New York Stock Exchange.