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Empresas y finanzas

Neiman Marcus posts lower quarterly profit


    NEW YORK (Reuters) - Upscale department store Neiman Marcus posted a sharply lower quarterly profit on Wednesday as its affluent shoppers, facing a deep economic downturn, scaled back their spending.

    Neiman said its net profit was $12.9 million in the fiscal first quarter that ended Nov 1, compared to a profit of $78.6 million in the year-earlier quarter.

    On an operating basis, the company posted a profit of $81.6 million, compared with $189.7 million, a year ago.

    Sales fell to $986 million from $1.13 billion a year ago. Same-store sales, a key measure of retail health, declined 14.5 percent.

    (Reporting by Aarthi Sivaraman, editing by Dave Zimmerman)