Neiman Marcus 2002 Annual Report Download - page 7

Employees
As of September 15, 2003, the Company had approximately 15,100 employees. Neiman Marcus stores had approximately 12,700
employees, Bergdorf Goodman stores had approximately 1,000 employees, Neiman Marcus Direct had approximately 1,300
employees and Neiman Marcus Group had approximately 80 employees. The Company's staffing requirements fluctuate during the
year as a result of the seasonality of the retail industry. None of the Company's employees are subject to collective bargaining
agreements, except for approximately 16 percent of the Bergdorf Goodman employees. The Company believes that its relations with
its employees are good.
Seasonality
For information on seasonality, see "Management's Discussion and Analysis of Financial Condition and Results of Operations" in
Item 7.
Regulation
The Company's operations are affected by numerous federal and state laws that impose disclosure and other requirements upon the
origination, servicing and enforcement of credit accounts and limitations on the maximum amount of finance charges that may be
charged by a credit provider. In addition to the Company's proprietary credit cards, credit to the Company's customers is provided
primarily through third parties such as American Express®, Visa®, MasterCard®, Diners Club®, Novus® and Carte Blanche®. Any
change in the regulation of credit that would materially limit the availability of credit to the Company's customer base could adversely
affect the Company's results of operations or financial condition.
The Company's and its competitors' practices are subject to review in the ordinary course of business by the Federal Trade
Commission and are subject to numerous federal and state laws. Additionally, the Company is subject to certain customs, truth-in-
advertising and other laws, including consumer protection regulations, that regulate retailers generally and/or govern the importation,
promotion and sale of merchandise. The Company undertakes to monitor changes in these laws and believes that it is in material
compliance with all applicable state and federal regulations with respect to such practices.
Fiscal Year
The Company's fiscal year ends on the Saturday closest to July 31. All references to 2003 relate to the fifty-two weeks ended August
2, 2003; all references to 2002 relate to the fifty-three weeks ended August 3, 2002 and all references to 2001 relate to the fifty-two
weeks ended July 28, 2001. All references to 2004 relate to the fifty-two weeks ending on July 31, 2004.
ITEM 2. PROPERTIES
The Company's corporate headquarters are located at the Downtown Neiman Marcus store location in Dallas, Texas. The operating
headquarters for Neiman Marcus, Bergdorf Goodman and Neiman Marcus Direct are located in Dallas, Texas; New York, New York;
and Irving, Texas, respectively. As of September 15, 2003, the approximate aggregate gross square footage used in the Company's
operations was as follows:
Owned
Owned
Subject to
Ground Lease Leased Total
Specialty Retail Stores 348,000 2,224,000 2,953,000 5,525,000
Distribution, Support and Office
Facilities 1,207,000 150,000 866,000 2,223,000
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