It was clearly the web and e-commerce that drove sales growth at The Neiman Marcus Group Inc. for the 2008 fiscal year.For the year, Neiman Marcus, grew web sales by 13.1% to $564.5 million from e-commerce sales of $499 million in fiscal 2007. In comparison, total revenue increased by 4.8% from $4.39 billion in fiscal 2007 to $4.6 billion in FY 2008. Store sales rose year-over-year by 4.9% to $3.85 billion from $3.67 billion. Neiman Marcus posted operating earnings of $466.4 million from operating earnings of $476.8 million in fiscal 2007.
Overall the web accounted for 12% of total revenue, but generated 62% of growth across all channels, including stores, catalog and the Internet.
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