Neiman Marcus Group Swings to $19.82 Million Q3 Profit

Neiman Marcus San Antonio
by Harry Sheff
Neiman Marcus's San Antonio, Texas store
Neiman Marcus’s San Antonio, Texas store
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.