A discussion draft of the Online Sales Tax Simplification Act of 2016 is expected to be introduced in Congress soon.
E-commerce accounted for 20% of all sales and 40% of all sales growth.
It was a good first quarter overall for The Neiman Marcus Group Inc., and the biggest growth came from the web.
For the first quarter of fiscal 2013 ended Oct. 27, Neiman Marcus, No. 41 in the 2012 Internet Retailer Top 500 reported:
- E-commerce revenue grew 13.5%to $217.2 million from $191.3 million in the first quarter of fiscal 2012.
- Total sales grew year over year 6.5% to $1.068 billion from $1.003 billion.
- Specialty retail sales increased 4.9% to $851.3 million from $811.8 million.
- Comparable-store sales weren’t disclosed.
- Net earnings increased 2.5% to $49.6 million from $48.4 million in the first quarter of fiscal 2012.
The web accounted for 20.3% of total sales compared with 19.1% in the first quarter of fiscal 2012. E-commerce also accounted for 39.8%, or $25.9 million, of growth in sales of $65.0 million across all channels.
Neiman Marcus also announced yesterday that it has begun selling internationally to online shoppers in more than 100 countries. The retailer selected FiftyOne Global eCommerce to handle payments, currency conversions and customs details for shipping the goods out of the United States.