Neiman Marcus Blames Fashion Bloggers For Its Sales Woes
Live by the sword, die by the sword. For years, Neiman Marcus thrived on the demand for haute couture featured in runway shows across the globe, from New York to Paris and Milan. But now the luxury department store says the quicker speed with which a runway item can go from hot to cold is to blame for its latest sales decline. The retailer reported that comparable sales, a metric that excludes newly opened or closed stores, fell 4.1% the fourth straight drop. “Today, fashion shows are now blogged and broadcast all over the world via social media,” said Karen Katz, Neiman Marcus Group CEO on a conference call with investors on Monday. “By the time the merchandise ships many months later, the newness and excitement had worn off and in many cases, the customer has moved on.” Read more at Fortune.
