Neiman Marcus grows Q3 web sales by 25%
Neiman Marcus Group Inc. is reporting a 25.4% increase in e-commerce sales for the third quarter while total revenue rose by 8.2%.
For the third quarter, Neiman Marcus, No. 36 in the Internet Retailer Top 500 Guide, recorded e-commerce sales of $121.3 million from $96.7 million in the prior year. For the first nine months of the year, Neiman Marcus also is reporting total web revenue of $378.2 million, an increase of 22% from web sales of $310 million for the same period in 2006.
Web sales accounted for 11% of sales in the third quarter. In Q3 Neiman Marcus posted net earnings of $59.5 million on revenue of $1.073 billion vs. net earnings of $40.5 million on revenue of $992.3 million in Q3 2006.
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