Neiman Marcus Readies for Christmas
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Posted: 6:05 PM Oct 7, 2008
Neiman Marcus Readies for Christmas
Stock market plunges? Talk of recession? Not for Neiman Marcus.
Reporter: Associated Press
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Stock market plunges? Talk of recession? Not for Neiman Marcus.

The luxury retailer has unveiled its annual Christmas Book. In its pages, a $160,000 limited edition Beamer, a backyard golf course designed by Jack Nicklaus, a $10 million stable of Thoroughbreds and a collection of every top 100 record from 1955 through 1990.

Neiman vice president Ginger Reeder says the gifts are meant "to make you smile" since "we all need a break" from the current economic troubles.

Reeder also says that wealthy customers are not much affected by the economy, but so-called aspirational shoppers, those upper middle class buyers, seem to be shopping less and buying fewer items.

Back in August, the retailer reported a $35 million quarterly loss and Reeder's boss, CEO Burt Tansky was predicting an off year because so many customers were heavily invested in the markets.

(Copyright 2008 by The Associated Press. All Rights Reserved.)

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