March 17, 2010, 12:00 AM

After a long dry spell, web sales for Neiman Marcus grow once more

After five consecutive quarters of declining web sales, e-commerce is finally looking up at Neiman Marcus. Total web sales in Q2 increased 9.9%.

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After reporting five consecutive quarters of declining web sales, e-commerce is finally looking up at Neiman Marcus Inc.

For the second quarter of fiscal 2010 ended Jan. 30, Neiman Marcus, No. 35 in the Internet Retailer Top 500 Guide, achieved:

  • An increase in web sales of 9.9% to $189.3 million from $172.2 million in the second quarter of fiscal 2009.
  • Total sales increased year over year 1.9% to $1.10 billion from $1.08 billion.
  • Direct marketing sales increased year over year by 5.9% to $221.2 million from $208.8 million.
  • Specialty retail store sales increased 1.2% to $881.2 million from $870.6 million in the prior year.
  • Net earnings were $3.9 million compared with a net loss of $509.3 million in the second quarter of fiscal 2009.
Based on calculations by Internet Retailer, the web accounted for 17.2% of total sales compared with 15.9% in the second quarter of fiscal 2009. “Our customers continue to migrate toward online retailing in our direct marketing operation,” Neiman Marcus says in its recently filed quarterly earnings statement with the U.S. Securities and Exchange Commission.

For the first two quarters of fiscal 2010, Neiman Marcus also achieved:

  • An increase in web sales of 5.1% to $308.2 million from $293.2 million in the first two quarters of fiscal 2009.
  • Total sales decreased year over year 4.4% to $1.97 billion from $2.06 billion.
  • Direct marketing sales increased year over year by 0.3% to $368.5 million from $367.5 million.
  • Specialty retail store sales decreased 5.3% to $1.60 billion from $1.69 billion in the prior year.
  • Net earnings were $12.5 million compared with a net loss of $496.3 million in the first two quarters of fiscal 2009.
Based on calculations by Internet Retailer, the web accounted for 15.6% of total sales compared with 14.2% in the first two quarters of fiscal 2009.

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