Exhibit 99.1
Neiman Marcus, Inc. Reports October Revenues
DALLAS--(BUSINESS WIRE)--Nov. 2, 2006--Neiman Marcus, Inc.
announced preliminary Company-wide revenues for October 2006.
4 weeks ended
October 28, October 29,
2006 2005 % Change
------------------ ----------------- ----------
Total Revenues $351 million $320 million 9.9%
Comparable Revenues $343 million $320 million 7.2%
13 weeks ended
(1st Fiscal Quarter)
October 28, October 29,
2006 2005 % Change
------------------ ----------------- ----------
Total Revenues $1,058 million $963 million 9.9%
Comparable Revenues $1,028 million $963 million 6.8%
All figures have been adjusted to exclude the revenues of Gurwitch
Products, L.L.C.
In the four-week October period, comparable revenues in the
Specialty Retail Stores segment, which includes Neiman Marcus Stores
and Bergdorf Goodman, increased 6.5 percent. Revenue growth trends
were the strongest in the Company's stores in the Southeast and West.
The merchandise categories in the Specialty Retail Stores segment that
performed the strongest included designer jewelry, designer handbags,
women's contemporary sportswear and dresses, shoes and men's.
Comparable revenues at Neiman Marcus Direct in the four-week
October period increased 12.3 percent. The top selling merchandise
categories in the Direct Marketing segment included jewelry, women's
apparel and shoes, handbags and men's.
Comparable revenues for Neiman Marcus, Inc. for the first quarter
of fiscal year 2007 increased 6.8 percent. For the first quarter of
fiscal year 2007, Specialty Retail Stores comparable revenues
increased 5.4 percent. Comparable revenues for the first quarter of
fiscal year 2007 compared to last year increased 4.6 percent and 10.3
percent at Neiman Marcus Stores and Bergdorf Goodman, respectively.
Neiman Marcus Direct first quarter fiscal year 2007 revenues were 14.7
percent above last year.
Neiman Marcus, Inc. plans to report first quarter earnings on
Thursday, December 7, 2006. The Company will host a conference call
the same day that will be simultaneously webcast.
The Company's four-week reporting period is consistent with last
year and reflects a 4-5-4 week first quarter.
Neiman Marcus, 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 and elsewhere;
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; 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 or 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 Company's success in enforcing its intellectual
property rights; the effects of incurring a substantial amount of
indebtedness under the Company's senior secured credit facilities,
senior notes and senior subordinated notes and of complying with the
related covenants and conditions; 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 or
inflation 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, Inc.
James E. Skinner, 214-757-2954
Senior Vice President and Chief Financial Officer
Stacie Shirley, 214-757-2967
Vice President - Finance and Treasurer