Per-share earnings at
Neiman Marcus Group
nearly doubled in the company's fiscal first quarter, matching estimates.
In its quarter ended Nov. 1, the high-end retailer earned $56.22 million, or $1.16 a share, on sales of $824.86 million. The company earned $28.52 million, or 59 cents a share, on $734.08 million in revenue in the year-ago period.
Earnings in the first quarter a year ago were depressed by an accounting change. Without the change, Neiman Marcus would have earned $43.32 million, or 90 cents a share.
Analysts had projected that the company would earn $1.16 a share in the quarter, according to Thomson First Call. Neiman Marcus had previously projected that its earnings would come in between $1.12 and $1.17 a share.
The company did not immediately give guidance for its fiscal second quarter. Wall Street is expecting the company to earn 79 cents a share in the holiday quarter.
Neiman Marcus' shares closed regular trading down 20 cents, or 0.4%, to $54.75.