Neiman Marcus Group Swings to $19.82 Million Q3 Profit

Neiman Marcus Group, parent company of Neiman Marcus and Bergdorf Goodman, swung to a profit of $19.82 million in the third quarter, from last year’s Q3 loss of $8 million. Sales were up 4.3%, helped by the October 2014 acquisition of Munich, Germany-based luxury e-commerce retailer MyTheresa.

Dallas-based Neiman Marcus Group, which was acquired in 2013 by Ares Management LLC and Canada Pension Plan Investment Board for $6 billion, operates 41 Neiman Marcus stores, 30 Last Call off-price stores, 12 Last Call Studio stores, six CUSP stores, two Bergdorf Goodman stores and the Horchow catalog.