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Luxury retailer Neiman Marcus sees FY06 sales growth

Author: Dallas 9/30/2006 3:25:24 AM

Same-store sales grew 6.6 percent for the fourth quarter and 6.8 percent for the 2006 fiscal year, ended July 29, at luxury department store firm Neiman Marcus Group.

Total fourth-quarter revenue reached $915.5 million, a 9 percent increase over the same period in 2005. Total revenue for fiscal year 2006 reached $4.1 billion, an 8 percent increase over fiscal year 2005.

Operating earnings for the fourth quarter totaled $20.7 million, less than half of the $46.8 million in operating earnings for the same period in 2005. Adjusted operating earnings for the fourth quarter totaled $38.5 million, a slight drop from the $40.6 million in operating earnings for fiscal year 2005.

Operating earnings for fiscal year 2006 totaled $328.1 million, compared with $409 million for fiscal year 2005. Adjusted operating earnings for the fiscal year were $450 million, up 7.6 percent from fiscal year 2005.

In fiscal year 2005, Neiman Marcus' jewelry sales totaled $380 million

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