Online sales account for over 25% of Neiman Marcus’s revenue
September 23, 2015 01:34 PM
Online sales are becoming more important to luxury retailer Neiman Marcus as it prepares to go public.
Neiman Marcus’s chief operating officer Don Grimes told analysts on the retail chain’s Q4 2015 earnings call that the company sold $1.3 billion online in fiscal 2015, an increase of 13% year-over-year. Web sales accounted for 25.5% of the company’s 2015 sales of $5.095 billion, up from 23.9% a year earlier.
For the fourth quarter, Neiman Marcus’s online sales reached $324 million, up 8.2% year-over-year. Web sales represented 27.8% of all sales of $1.167 billion during the quarter.
Neiman Marcus, No. 43 in the Internet Retailer 2015 Top 500 Guide, filed for an IPO at the beginning of August and is in a quiet period, so executives didn’t field questions on the call. Grimes cited the company’s investments in technology as key to e-commerce growth, including a renewed focus on personalization.
“We made significant strides towards customizing how customers experience our brands whether a personalized editorial homepage that provides customers with relevant content in the homepage main image or personalized site search based on buying or browsing behavior,” he said. “We also launched the ability to customize and personalize merchandise on the website. Our e-commerce websites continue to evolve and refine the online customer’s shopping experience.”
For the fourth quarter ended August 1, 2015, Neiman Marcus reported:
- Net revenue of $1.167 billion, up 4.9% from $1.113 billion during the same time last year.
- A net loss of $32.9 million, compared to a net loss of $42.1 million during the same time last year.
- Comparable store revenue up 1.9% year-over-year.
For Fiscal 2015, Neiman Marcus reported:
- Net revenue of $5.095 billion, up 5.3% from $4.839 billion during the same time last year.
- A net profit of $14.9 million, compared to a net loss of $147.2 million during the same time last year.
- Comparable store revenue up 3.9% year-over-year.