Neiman Marcus Posts Loss of $14.6 Million
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Neiman Marcus Group Inc. posted an operating loss of $14.6 million, or 31 cents a share, for its fiscal fourth quarter, compared with a profit of $10.1 million, or 21 cents, in the year-ago period. The results were in line with analyst expectations.
Sales fell 0.8% to $635.8 million, while sales at stores open at least a year fell 1.5%, the Dallas-based retailer said.
Neiman Marcus also said it expects to post a first-quarter profit of 70 to 80 cents a share, with same-store sales down 1% to 3%. Analysts on average are expecting 74 cents.
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