Neiman Marcus is heading into the holiday season with a tailwind from its strongest annual results in several years. The Dallas-based luxury retailer reached a level of profitability it hasn’t seen in a long time.
During the retailer’s fiscal year ended in July, about 80% of its sales were at full price, resulting in earnings before interest and taxes of $495 million, or 11% of sales. Anything over 10% is considered good and reflects a company’s control over operating expenses.
Sales increased 33% to $5 billion, including sales from leased vendor shops. Digital site visits, including to the Neiman Marcus app, increased to 300 million in fiscal 2022.
