For the past two to three years, this sector is struggling very hard in terms of trying to excite the consumer, with the exception of the high-end players like Nordstrom or Neiman Marcus.
Quotes about neiman (6 Quotes)
The announcement by Neiman Marcus...makes us as concerned as we have ever been that this Christmas will be extremely lackluster, ... It appears now the high-end consumer is beginning to scale back their purchases, which does not bode well for the holiday season. This type of thing is clearly going to have an impact on other high-end retailers.
While Saks is trying to make itself even more exclusive and pricing its goods even higher, the Neiman Marcus stores are going in the other direction and trying to attract a larger group of consumers. Today's development shows that competition in the luxury space is being ratcheted up a notch.
High-end stores depend on continued spending from clients that over the past four years have amassed considerable wealth, ... Sales at upscale stores like Saks and Neiman Marcus are also going strong because the stock market has been very customer friendly to this group.
It's all part of Neiman Marcus, ... Last year we had a Boeing business jet for 35 million. We didn't sell any, but we made people smile.
They spend lot of money on paid search marketing in particular. They're often up ahead of Neiman Markus and Nordstrom in paid results and their budgets are several million dollars.