Neiman Marcus Group Inc. swung to a fiscal second-quarter profit on steep write-downs a year earlier, as the luxury retailer posted higher revenue and lower expenses. The Dallas-based retailer is also owner of BERGDORF GOODMAN. Neiman’s is probably the most important barometer of the Luxury market, and this certainly is a good indicator of the luxury market in general. The key message appears to be that through cost-cutting measures along with improved sales, profits have improved too. The trend to profitability seems consistent: lay-offs. The harch bottom line is that lower income earners suffer at the expense of the top income earners who live for profit. This fuels a stronger luxury market, but reduces the spending power of the lower earners. Hopefully with this rebound the employment market will improve too as the need for additional help registers without impacting profits. All good for the luxury real estate market in New York.