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E-commerce tops 16% of sales for Neiman Marcus in fiscal 2011
The web grows 13.9% as total sales increase 8.4%.
Topics: 2011 earnings, business finance, CSN Stores, e - commerce, e-commerce sales, fiscal 2011 earnings, Neiman Marcus, neiman marcus inc., online luxury shoppers, Q4, q4 2011, quarterly web sales, retail store sales, Texas Pacific Group, The Mosaic Company, web sales
Online luxury shoppers or those who aspire to be one helped to drive up web sales at Neiman Marcus Inc. in fiscal 2011.
For the 2011 fiscal year ended July 30, Neiman Marcus, No. 39 in the Internet Retailer Top 500, reported:
- E-commerce sales increased year over year 13.9% to $653.7 million from $574.0 million. Total sales increased 8.4% to $4.0 billion in fiscal 2011 from $3.69 billion in fiscal 2010.
- Specialty retail store sales increased 7.6% to $3.24 billion in fiscal 2011 from $3.01 billion in fiscal 2010.
- Direct market sales grew year over year 11% to $757.1 million from $682.0 million. Comparable-stores sales grew 8.1%.
- Net income was $31.6 million compared with a net loss of $1.8 million in the prior year.
Internet Retailer calculates the web accounted for 16.3% of total sales in fiscal 2011 compared with 15.6% in fiscal 2010.
For the fourth quarter:
- E-commerce sales increased year over year 14.8% to $155 million from $135 million.
- Total sales increased 11.3% to $919.7 million in fiscal 2011 from $826.3 million in Q4 fiscal 2010.
- Specialty retail store sales increased 11.4% to $743.1 million in Q4 fiscal 2011 from $667.3 million in Q4 fiscal 2010.
- Direct market sales grew year over year 11.1% to $176.6 million from $159.0 million.
- Comparable-stores sales grew 11%.
- Net loss was $61.4 million compared with a net loss of $32.8 million in the prior year.
Internet Retailer calculates the web accounted for 16.9% of total sales in Q4 fiscal 2011 compared with 16.3% in Q4 fiscal 2010.