Neiman Marcus Inc. CEO Karen Katz said Wednesday that business hasn’t been “as robust or consistent” as expected resulting in flat profits.
Profitability was hurt by higher planned costs that included putting an iPhone in every store associate’s hands. Greater markdowns and a decline in revenue from its Neiman Marcus private label credit card also hurt profits. A year ago, the company started allowing shoppers to use their Visa cards to make store purchases.
“Although our sales … [visit site to read more]