Exhibit 99.1
The Neiman Marcus Group Reports April Revenues
DALLAS--(BUSINESS WIRE)--May 5, 2005--The Neiman Marcus Group,
Inc. (NYSE:NMG.A)(NYSE:NMG.B) announced the following preliminary
company-wide revenues:
4 weeks ended
April 30, May 1,
2005 2004 % Change
-------------- -------------- -----------
Total Revenues $309 million $272 million 13.3%
Comparable Revenues $307 million $269 million 14.2%
13 weeks ended
(3rd Fiscal Quarter)
April 30, May 1,
2005 2004 % Change
-------------- -------------- -----------
Total Revenues $933 million $873 million 6.9%
Comparable Revenues $928 million $859 million 8.0%
Comparable revenues for the four weeks ended May 1, 2004 exclude
the sales of Chef's Catalog prior to its disposition in November 2004.
In the four-week April period, comparable revenues in the
Specialty Retail Stores segment, which includes Neiman Marcus stores
and Bergdorf Goodman, increased 12.5 percent. Revenue growth trends
were the strongest in the Company's stores in the Southeast and
Western regions. The merchandise categories in the Specialty Retail
Stores segment that performed the strongest included women's
contemporary sportswear and fine apparel, jewelry, designer handbags
and accessories, women's shoes and men's clothing.
Comparable revenues at Neiman Marcus Direct for the four-week
April period increased 19.5 percent. The Neiman Marcus brand
experienced the highest year-over-year sales performance in the
direct-to-consumer business, supported by strong sales in women's
apparel, cosmetics, women's shoes and jewelry.
Comparable revenues for the Neiman Marcus Group for the third
quarter of fiscal year 2005 increased 8.0 percent, while the increase
for the same period last year was 22.0 percent. For the third quarter
of fiscal year 2005, Specialty Retail Stores comparable revenues
increased 6.5 percent including a 6.3 percent increase at Neiman
Marcus Stores and an 8.1 percent increase at Bergdorf Goodman. Neiman
Marcus Direct third quarter fiscal year 2005 revenues were 16.8
percent above last year.
The Company currently expects earnings in the range of $1.53 to
$1.58 per share for the third quarter of fiscal year 2005. The Company
currently expects comparable store revenues for the fourth quarter of
its fiscal year 2005 to increase 5 percent to 7 percent compared to
last year.
The Neiman Marcus Group plans to report third quarter earnings on
Wednesday, June 1, 2005 after the market closes. The Company's
four-week reporting period is consistent with last year and reflects a
4-5-4 week third 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 and
Bergdorf Goodman brand names. Information about the Company can be
accessed at www.neimanmarcusgroup.com.
From time to time, the Company makes statements that predict or
forecast future events or results, depend on future events for their
accuracy or otherwise contain "forward-looking information" such as
the forecasts of revenues and earnings contained in this release.
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 store
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 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: The Neiman Marcus Group, Inc., Dallas
James E. Skinner, 214-743-7625
or
Stacie Shirley, 214-757-2967