June 16, 2010, 2:49 PM

More spending by online luxury shoppers benefits Neiman Marcus

The retailer's e-commerce sales rose 15.4%.

Mark Brohan

Research Director

Lead Photo

Online shoppers of luxury goods are beginning to spend more freely, and that trend is evident at Neiman Marcus Inc., which reported a healthy spurt in web sales for the third quarter of fiscal 2010.

 For the third quarter of fiscal 2010 ended May 1, Neiman Marcus, No. 41 in the Internet Retailer Top 500 Guide, reported:

  • E-commerce sales increased 15.4% to $130.9 million from $113.4 million in the third quarter of fiscal 2009.
  • Total sales grew year over year 10.5% to $895.2 million from $810.1 million.
  • Comparable-store sales increased 9.1%.
  • Retail sales grew 11.3% to $740.7 million from $665.6 million in the third quarter of fiscal 2009.
  • Direct marketing revenue grew year over year 6.9% to $154.5 million from $144.5 million.
  • Operating income rose year over year 69.6% to $85.3 million from $50.3 million.

Internet Retailer calculates the web accounted for 14.6% of total sales in the third fiscal quarter compared with 14.0% in the prior year.

 For the first three quarters of fiscal 2010, Neiman Marcus also recorded: 

  • E-commerce sales increased 8% to $439.1 million from $406.7 million in the first three quarters of fiscal 2009.
  • Total sales decreased year over year 0.3% to $2.87 billion from $2.88 billion.
  • Comparable-store sales decreased 1.9%.
  • Retail sales decreased 0.8% to $2.34 billion from $2.36 billion in the first three quarters of fiscal 2009.
  • Direct marketing revenue grew year over year 2.1% to $522.9 million from $512 million.
  • Operating income was $227.3 million compared with a net loss of $460.8 million in the first three quarters of fiscal 2009.

Internet Retailer calculates the web accounted for 15.3% of total sales in the first three quarters of fiscal 2010 compared with 14.1% in the prior year.

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