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Sales at Neiman Marcus drop 30 percent in March

April 10, 2009

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Dallas--Same-store sales at Neiman Marcus Inc. decreased 29.9 percent for the five weeks ended April 4, the company announced on Thursday.

Total revenues for the period dropped 28.6 percent to $307 million, compared with $430 million for the five weeks ended March 29, 2008.

In the five-week March period, same-store sales in the Specialty Retail Stores segment, which includes Neiman Marcus Stores and Bergdorf Goodman, decreased 31.2 percent. The company experienced weakness across all geographies and merchandise categories in the Specialty Retail Stores segment.

Comparable revenues at Neiman Marcus Direct in the five-week March period decreased 23.5 percent. The top-selling merchandise category in the Direct Marketing segment was beauty.

The company's five-week reporting period is consistent with last year and reflects a 4-5-4 week third quarter.

Neiman Marcus 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 online and print catalog operations under the Neiman Marcus, Horchow and Bergdorf Goodman brand names.

For more information about the company, visit its Web stie, NeimanMarcusGroup.com.
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