Neiman Marcus Group, an American chain of luxury department stores, has reported total revenue of $1.1 billion for Q3 of FY2019, ending April 27, 2019, representing a decrease in comparable sales of 1.5 per cent from Q3 of FY2018. During the quarter, the company reported a net loss of $31.2 million compared with a net loss of $19.9 million for Q3 of FY2018.

For the 39 weeks ending April 27, 2019, the company reported total revenue of $3.6 billion, representing an increase in comparable sales of 0.7 per cent. The company reported a net loss of $88.4 million for the 39 weeks ending April 27, 2019 compared with net earnings of $326.4 million in the prior year, said the company in a press release.

“We continue to drive innovation and are making long-term investments in technology and customer centric capabilities that will both enrich the shopping experience and position the company for long-term growth,” said Geoffroy van Raemdonck, chief executive officer, Neiman Marcus. (PC)

Fibre2Fashion News Desk – India

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