In its second-largest acquisition, Amazon buys the company for $970 million.
John Koryl comes to Neiman Marcus from Williams-Sonoma.
Neiman Marcus Inc. has a new executive in charge of e-commerce and direct marketing.
Neiman Marcus, No. 39 in the Internet Retailer Top 500, has named John E. Koryl as the new president of Neiman Marcus Direct. He replaces Gerald Barnes, who will become executive vice president, chief merchant, Neiman Marcus Direct.
Koryl will report to Neiman Marcus CEO Karen Katz. Prior to joining Neiman Marcus, Kroyl worked at Williams-Sonoma Inc., No. 25 in the Internet Retailer Top 500 Guide, as senior vice president of e-commerce marketing and analytics. Prior to Williams-Sonoma, Koryl also served as senior director, marketing solutions at eBay Inc., UmbrellaBank, Creditland.com and Accenture.
Neiman Marcus Direct operates NeimanMarcus.com, BergdorfGoodman.com, LastCall.com, Cusp.com and Horchow.com. In addition, the division produces more than 80 catalogs annually for the Neiman Marcus and Horchow brands, including the Neiman Marcus Christmas Book. Neiman Marcus Direct generates sales of $715 million per year and has a staff of over 1,500 employees, the retailer says.
For the third quarter of fiscal 2011 ended April 30, Neiman Marcus reported:
- E-commerce increased 19.8% to $156.8 million from $130.9 million in the third quarter of fiscal 2010.
- Total sales increased 4.9% to $938.8 million from $895.2 million.
- Specialty retail stores sales increased 8.6% to $804.4 million from $740.7 million. The company doesn’t break out same-store sales.
- Direct marketing sales, which include catalog and web sales, increased 16.1% to $179.4 million from $154.5 million in the third quarter of fiscal 2010.
- Net earnings rose year over year 149.7% to $46.2 million from $18.5 million