The Dallas Morning News - July 10, 2008
Luxury retailer Neiman Marcus said its same-store sales fell 2.4 percent in June.
The Dallas-based retailer’s clientele is much more sensitive to declines in the stock market, than to gasoline or food prices, and wealth certainly took a hit last month.
Declines in the stock market and layoffs in the high-paying finance sector are starting to have an effect on the company’s results. Neiman Marcus has reported declines in same-store sales in three out of the last six months.
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