Exhibit 99.1
Neiman Marcus, Inc. Reports November Revenues
DALLAS--(BUSINESS WIRE)--Nov. 30, 2006--Neiman Marcus, Inc. announced
preliminary Company-wide revenues for November 2006.
4 weeks ended
November 25, November 26,
2006 2005 % Change
----------------- --------------- ---------
Total Revenues $332 million $315 million 5.3%
Comparable Revenues $324 million $315 million 2.9%
All figures have been adjusted to exclude the revenues of Gurwitch
Products, L.L.C and Kate Spade LLC.
In the four-week November period, comparable revenues in the Specialty
Retail Stores segment, which includes Neiman Marcus Stores and Bergdorf Goodman,
increased 4.2 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 precious jewelry, designer
handbags, women's designer and evening apparel and men's.
Comparable revenues at Neiman Marcus Direct in the four-week November
period decreased 2.4 percent. The top selling merchandise categories in the
Direct Marketing segment included women's designer apparel, contemporary
sportswear and designer handbags.
The Company's four-week reporting period is consistent with last year and
reflects a 4-5-4 week second 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., Dallas
James E. Skinner, 214-757-2954
Senior Vice President and Chief Financial Officer
or
Stacie Shirley, 214-757-2967
Vice President - Finance and Treasurer