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Article: Bergdorf Goodman Men's strong results boost earnings at Neiman Marcus Group; operating income hits $9.6M in quarter.(Brief Article)
- Article from:
- Daily News Record
- Article date:
- September 12, 1995
CopyrightCOPYRIGHT 1995 Conde Nast Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK (FNS) -- Helped by contributions from Bergdorf Goodman Men and solid gains at Neiman Marcus, income from continuing operations at Neiman Marcus Group Inc. rose to $9.6 million in the fourth quarter from $5.7 million a year ago.
After a $10.9 million, or 29 cents a share, increase in earnings from LIFO adjustments, and preferred dividends of $7.3 million, net income came to $2.3 million, or 6 cents.
In the year-ago quarter, after a $7.7 million loss from the disposal of the Contempo Casuals chain sold in June 1995 and $7.3 million in preferred dividends, partially offset by a $3.1 million LIFO gain, Neiman lost $92 million.
Sales edged up 4.6 ...