Exhibit 99.1
The Neiman Marcus Group Reports September Revenues
DALLAS--(BUSINESS WIRE)--Oct. 7, 2004--The Neiman Marcus Group,
Inc. (NYSE:NMG.A) (NYSE:NMG.B) announced the following preliminary
Company-wide revenues:
5 weeks ended
October 2, October 4,
2004 2003 % Change
------------------ ------------------ -----------
Total Revenues $366 million $344 million 6.3%
Comparable Revenues $365 million $344 million 6.3%
In the five-week September period, comparable revenues in the
Specialty Retail Stores segment, which includes Neiman Marcus Stores
and Bergdorf Goodman, increased 5.6 percent. The merchandise
categories in the Specialty Retail Stores segment that performed well
included women's contemporary sportswear, designer handbags, beauty
and men's shoes. Revenue growth trends were the strongest in the
Company's Northeast and West Coast regions. The Company experienced
weaker sales trends in its stores located in the Southeast region.
Comparable revenues at Neiman Marcus Direct in the five-week
September period increased 6.4 percent. The top selling merchandise
categories in the Direct Marketing segment included women's apparel
and shoes, handbags, linens and furniture.
The Company's five-week reporting period is consistent with last
year and reflects a 4-5-4 week first quarter.
The Neiman Marcus Group, Inc. operations include the Specialty
Retail Stores segment and the Direct Marketing segment. The Specialty
Retail Stores segment consists primarily of Neiman Marcus and Bergdorf
Goodman stores. The Direct Marketing segment conducts both print
catalog and online operations under the Neiman Marcus, Horchow, Chef's
Catalog and Bergdorf Goodman brand names. Information about the
Company can be accessed at www.neimanmarcusgroup.com.
From time to time, the Company may make statements that predict or
forecast future events or results, depend on future events for their
accuracy or otherwise contain "forward-looking information." These
statements are made based on management's expectations and beliefs
concerning future events and are not guarantees of future performance.
The Company cautions readers that actual results may differ
materially as a result of various factors, some of which are beyond
its control, including but not limited to: political or economic
conditions; terrorist activities in the United States or escalation in
the international war on terrorism; disruptions in business at the
Company's stores, distribution centers or offices; changes in consumer
confidence resulting in a reduction of discretionary spending on goods
that are, or are perceived to be, "luxuries"; changes in demographic
or retail environments; changes in consumer preferences or fashion
trends; competitive responses to the Company's marketing,
merchandising and promotional efforts and/or inventory liquidations by
vendors or other retailers; changes in the Company's relationships
with key customers; delays in the receipt of merchandise ordered by
the Company due to work stoppages and/or other causes of delay in
connection with either the manufacture or shipment of such
merchandise; seasonality of the retail business; adverse weather
conditions, particularly during peak selling seasons; delays in
anticipated store openings and renovations; natural disasters;
significant increases in paper, printing and postage costs; litigation
that may have an adverse effect on the Company's financial results or
reputation; changes in the Company's relationships with designers,
vendors and other sources of merchandise; the financial viability of
the Company's designers, vendors and other sources of merchandise; the
design and implementation of new information systems or enhancement of
existing systems; changes in foreign currency exchange rates; impact
of funding requirements related to the Company's noncontributory
defined benefit pension plan; changes in the Company's relationships
with certain of key sales associates; changes in key management
personnel; changes in the Company's proprietary credit card
arrangement that adversely impact its ability to provide consumer
credit; or changes in government or regulatory requirements increasing
the Company's cost of operations.
These and other factors that may adversely effect the Company's
future performance or financial condition are contained in its Annual
Report in Form 10-K and other reports filed with and available from
the Securities and Exchange Commission. The Company undertakes no
obligation to update or revise any forward-looking statements to
reflect subsequent events, new information or future circumstances.
CONTACT: Neiman Marcus Group, Inc., Dallas
James E. Skinner, 214-743-7625
or
Stacie Shirley, 214-757-2967