No Christmas in July for Neiman Marcus
CHESTNUT HILL, Mass. — Neiman Marcus Group Inc. said profit in its fiscal fourth quarter and full year will miss analysts’ forecasts on slower sales.
The luxury department store operator said sales at stores open at least a year fell 1.3% in July. It said profit in the quarter ended July 31 may be as low 5 or 6 cents a share. Analysts were expecting 12 cents. Full-year profit could be about $1.90 a share, the company said, less than the $1.95 average estimate.
Neiman Marcus shares fell $2.06 to close at $21.75 on the New York Stock Exchange.
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