Luxury department same-store sales up for August-Market Survey-Magazine-IRISPANCY FASHION ACCESSORIES & JEWELRY

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Magazine > Market Survey > News Content

Luxury department same-store sales up for August

9/2/2006 3:52:20 PM

SEPTEMBER 01, 2006 - New York -- Same-store sales at luxury department store groups Saks Incorporated, Neiman Marcus Group and Nordstrom grew in August, with Nordstrom leading the luxury trio.

Nordstrom saw a 7.1 percent increase in same-store sales, followed by same-store sales increases of 4.4 percent at Neiman Marcus Group and 3.3 percent at Saks Inc.

Total sales at Nordstrom increased 9.3 percent to $517 million. Year-to-date sales for the company increased 8 percent to $4.57 billion, with a same-store sales increase of 5.8 percent.

Total sales at Neiman Marcus Group grew 7.4 percent to $270 million. By segment, same-store sales increased 2.1 percent at Neiman Marcus and Bergdorf Goodman stores and comparable sales grew 19.3 percent in Neiman Marcus Direct, which includes catalog and online operations for Neiman Marcus, Horchow and Bergdorf Goodman.

Overall sales at Saks Incorporated dropped 36.5 percent to $227.5 million, following the sales of the company's Northern Department Store Group business to The Bon-Ton Stores in March and its Profitt's/McRae's business to Belk in July 2005.

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