News from Neiman Marcus is really bad. It seems that Sarah Palin spent so much there because there was nobody else in the store.
Among retailers, the luxury department store chain Neiman Marcus reported the deepest drop in sales at stores open at least a year, a crucial indicator also known as same-store sales.
October sales in Neiman’s specialty retail segment, which includes Neiman Marcus Stores and Bergdorf Goodman, were down 27.6 percent, in contrast to an increase of 7.8 percent a year ago.
Burton M. Tannsky, Neiman’s chairman and chief executive, said he expected that demand would “remain weak for an extended period of time” as affluent consumers cope with stock market volatility.