Luxury sales showing some life

Upscale retailer Neiman Marcus posted strong results pointing to a possible uptick in luxury spending, but a weaker euro and volatile stock markets could still hurt later.

The operator of Neiman Marcus and Bergdorf Goodman said it is monitoring Europe’s debt crisis and has yet to see vendors there pass on gains from a weak euro. Neiman also noted that a weak euro could negatively impact travel to New York, affecting sales at its Bergdorf Goodman flagship store in Manhattan.

In the latest third quarter, the Dallas-based chain reported net income of $18.5 million, compared with a loss of $3.1 million a year earlier.

Sales at its specialty stores open at least a year and at its online and catalog unit rose 9.1 percent in the quarter, while overall sales rose nearly 11 percent to $895.2 million.

The news came less than a month after Saks posted equally strong results, reflecting luxury’s improving fortunes in the face of strong economic headwinds.