Neiman Marcus, Inc. reports that third quarter revenues fell to $1.06 billion compared to $1.07 billion in the prior year. Comparable sales decreased 2.5 percent. Operating earnings for the luxury retailer during the 13-week period ended April 26 were $148.6 million compared to $162.6 million for the third quarter of fiscal year 2007. Adjusted operating earnings were $166.5 million in the third quarter of fiscal year 2008 compared to $180.6 million in the third quarter of fiscal year 2007, a decrease of 7.8 percent.

Read Full Story