A discussion draft of the Online Sales Tax Simplification Act of 2016 is expected to be introduced in Congress soon.
Neiman Marcus posted Internet sales of $101.1 million for the first quarter of 2007, up 27.5% from Q1 2005.
Neiman Marcus racked up Internet sales of $101.1 million for the first quarter of 2007, an increase of 27.5% compared with the same period in 2005.
Overall revenue for Q1 2007 was $1.039 billion, up 9.8%, or $93 million, from $946.2 million for the same quarter in fiscal 2006. Company executives attribute the growth to increases in comparable revenue, sales at new stores and higher Internet sales.
Internet sales for the quarter made up 10% of revenue, compared to 8% in Q1 2006. Neiman Marcus is No. 37 in the Internet Retailer Top 500 Guide to Retail Web Sites.