• March 11, 2009

That loud yelp you may be hearing from Texas comes from Neiman Marcus, which says sales for the second quarter of its fiscal year fell to $1.08 billion, compared to $1.37 billion in the prior year. Comparable-store revenues dropped a breathtaking 22.8%.

It posted a loss of $592.7 compared to operating earnings of $134.3 million in the same period a year ago. (On an adjusted basis, the loss was $32.6 million loss.)

Or the scream could be coming from a bright blue box: The Wall Street Journal reports that Tiffany & Co. will shutter its 16-store Iridesse chain, launched back in 2004. The store sells pearl jewelry.--Sarah Mahoney