Exhibit 99.1
The Neiman Marcus Group Reports February Revenues
DALLAS--(BUSINESS WIRE)--March 2, 2006--The Neiman Marcus Group,
Inc. announced the following preliminary company-wide revenues:
4 weeks ended
February 25, February 26,
2006 2005 % Change
------------- ------------- ----------
Total Revenues $291 million $275 million 5.8%
Comparable Revenues $282 million $273 million 3.0%
In the four-week February period, comparable revenues in the
Specialty Retail Stores segment, which includes Neiman Marcus stores
and Bergdorf Goodman, increased 3.5 percent. Revenue growth trends
were the strongest in the Company's stores in the Midwest and Texas.
The merchandise categories in the Specialty Retail Stores segment that
performed the strongest included women's contemporary sportswear and
fine apparel, designer handbags and men's.
Comparable revenues at Neiman Marcus Direct for the four-week
February period increased 8.6 percent. The top selling merchandise
categories in the Direct Marketing segment included jewelry, women's
apparel and shoes, handbags and men's.
The Neiman Marcus Group plans to report second quarter earnings on
Thursday, March 9, 2006 at 11:00 a.m. Eastern Time. The release will
be followed by a conference call that will be simultaneously webcast.
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 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; changes in the Company's
relationships with key customers; delays in the receipt of
merchandise; seasonality of the retail business; adverse weather
conditions, particularly during peak selling seasons; delays in
anticipated store openings; 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: The Neiman Marcus Group, Inc., Dallas
James E. Skinner, 214-743-7625
or
Stacie Shirley, 214-757-2967