US Luxury department store chain Neiman Marcus will consider selling some lower-priced goods after sales plunged 24 per cent year on year in its third quarter.

Although Neiman Marcus will not abandon higher-priced products, it said it would merchandise goods with a greater range of price points.

Chief executive Burt Tansky told analysts: “Our customers are reacting to the economy and its strain on their investments, their incomes and their outlooks. It may be that our greatest obstacle to recovery is the psychology of the times.”