The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
DALLAS, United States — Neiman Marcus saw a key sales figure rise for the first time in two years.
The Dallas-based chain, which operates more than 40 Neiman Marcus stores and two Bergdorf Goodman locations, reported a 4.2 percent increase in comparable revenue during its first fiscal quarter compared to a year ago. That's the first such gain since the fourth quarter of fiscal 2015. The figure includes a 14 percent increase in online sales, which now account for about one-third of total sales. Comparable revenue at department stores, though, was flat.
CEO Karen Katz says the retailer is attracting new shoppers and its core customers are spending more. She says the chain is benefiting from an improving economy but also efforts to expand its exclusive merchandise and personalize its marketing.
In 2020, like many companies, the $50 billion yoga apparel brand created a new department to improve internal diversity and inclusion, and to create a more equitable playing field for minorities. In interviews with BoF, 14 current and former employees said things only got worse.
For fashion’s private market investors, deal-making may provide less-than-ideal returns and raise questions about the long-term value creation opportunities across parts of the fashion industry, reports The State of Fashion 2024.
A blockbuster public listing should clear the way for other brands to try their luck. That, plus LVMH results and what else to watch for in the coming week.
L Catterton, the private-equity firm with close ties to LVMH and Bernard Arnault that’s preparing to take Birkenstock public, has become an investment giant in the consumer-goods space, with stakes in companies selling everything from fashion to pet food to tacos.