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Improved Margins Lead Neiman's To Smaller Loss.(Neiman Marcus Group Inc.)(Financial report)
Byline: Vicki M. Young With contributions from Arnold J. Karr
Improved Margins Lead Neiman's to Smaller Loss
A pickup in full-price selling helped lift gross margins and substantially reduced Neiman Marcus Inc.'s fourth-quarter loss.
"Regular-price selling was strong and pre-fall merchandise sold well, all contributing to improvements in our gross margin rate," said Karen Katz, president and chief executive officer of Neiman Marcus Stores, who will succeed Burt Tansky as ceo of the firm on Oct. 6. "Additionally, markdowns were less than last year for the quarter and the full year."
The net loss for the 13 weeks ended July 31 was $32.8 million, …
