Neiman Marcus saw a key sales figure rise for the first time in two years.
The Dallas-based chain, which operates more than 40 Neiman Marcus stores and two Bergdorf Goodman locations, reported a 4.2 percent increase in comparable revenue during its first fiscal quarter compared to a year ago. That's the first such gain since the fourth quarter of fiscal 2015. The figure includes a 14 percent increase in online sales, which now account for about one-third of total sales. Comparable revenue at department stores, though, was flat.
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CEO Karen Katz says the retailer is attracting new shoppers and its core customers are spending more. She says the chain is benefiting from an improving economy but also efforts to expand its exclusive merchandise and personalize its marketing.