NEW YORK (Reuters) – Upscale retailer Neiman Marcus (NMRCUS.UL) posted a quarterly loss on Wednesday, as sales suffered through the holiday season at the hands of frugal U.S. consumers.
The company posted a net loss of $509.2 million in the fiscal second quarter that ended on January 31, compared with a profit of $44.3 million, a year earlier.
Adjusted for charges, such as a non-cash impairment costs and a pension curtailment gain, Neiman said its loss in the quarter was $32.6 million.
Neiman, which runs both its namesake and Bergdorf Goodman stores, faced a 21.4 percent drop in second quarter sales to $1.08 billion, while same-store sales fell 22.8 percent.
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