Niemann Store Sales In The US Fell For The Third Consecutive Quarter.

According to the United States

Neiman Marcus's finest third quarter financial data showed that the same store's sales fell for the third consecutive quarter, and net profit also fell sharply.

According to reports, in the third quarter of the 2015/2016 fiscal year ending April 30th, Neiman Marcus's net profit was $3 million 800 thousand, down 81% from a year ago, sales fell 4.2% to $1 billion 170 million compared with the same period last year, and same store sales fell 5% over the same period last year.

For such bad quarterly results, Neiman Marcus said its main reason is online.

The increasing popularity has increased the difficulty of attracting tourists from physical retailers, while the relatively low temperatures in previous years have had a great impact on the sales of spring clothes.

In addition, because of the strong US dollar, the declining consumption of international tourists, the turmoil in the stock market and the uncertainty of the future brought by the US presidential election also led to a decline in local consumption in the United States.

In order to reverse the situation, Neiman Marcus said it has worked with suppliers to reduce inventory backlog and reduce the supply price by cancelling some orders.

At the same time, Neiman Marcus's main competitors, Messi's department store and Nordstrom also perform poorly. Sales in this quarter have declined to varying degrees.

Among them, as of the first quarter of April 30th, the net profit of Messi's department store dropped by 40.4% to 116 million dollars, and its revenue dropped from $6 billion 232 million in the same period last year to US $5 billion 771 million, far less than that of CapitalIQConsensus's expected US $5 billion 940 million. During the period, the group's sales of self-employed and authorized stores fell by 5.6%, while the sales of self operated businesses in the same store decreased by 6.1%.

Nordstrom's net profit fell by nearly 2/3 to $46 million in the first quarter of April 30th, although its total sales increased by 1.1% to $3 billion 250 million, but it was still lower than analysts' estimated $3 billion 280 million, compared with the 1.7% decline in store sales and lower than analysts expected.

In addition, Michael Kors and Coach have also been affected by the slowdown in retail sales. They have asked department store operators to reduce the intensity of discount and promotion and save costs.