Neiman Marcus Group LTD LLC Reports Second Quarter Results

Neiman Marcus Group LTD LLC (the “Company”) today reported financial results for the second quarter ended January 26, 2019.

“Our second quarter results reflect our sixth consecutive quarter of comparable sales increases. The stabilization of our business continues as we work deliberately to transform Neiman Marcus Group into a luxury customer platform, fueled by technology, innovation, and supported by seasoned and talented executives who are laser-focused on this mission.” said Geoffroy van Raemdonck, Chief Executive Officer, Neiman Marcus Group.

For the second quarter ended January 26, 2019, the Company reported total revenues of $1.39 billion, representing an increase in comparable sales of 0.7% from the same quarter a year ago. During the quarter, the Company reported a net loss of $29.0 million compared with net earnings of $372.5 million for the second quarter of fiscal year 2018, which included a provisional non-cash income tax benefit of approximately $387.8 million as described below under “Other Items”. Adjusted EBITDA, which is described on page 9 of this release, for the second quarter was $134.4 million compared to Adjusted EBITDA of $154.8 million for the second quarter a year ago. Excluding MyTheresa, U.S. Adjusted EBITDA for the second quarter was $134.4 million compared to Adjusted EBITDA of $147.5 million for the second quarter a year ago.

For the 26 weeks ended January 26, 2019, the Company reported total revenues of $2.50 billion, representing an increase in comparable sales of 1.6%. The Company reported a net loss of $57.2 million for the 26 weeks ended January 26, 2019 compared with net earnings of $346.3 million in the prior year. The prior year included a provisional non-cash income tax benefit of approximately $387.8 million as described below under “Other Items”. Adjusted EBITDA for the 26 weeks ended January 26, 2019 was $269.7 million compared to $277.2 million for the same period in the prior year. Excluding MyTheresa, U.S. Adjusted EBITDA for the 26 weeks ended January 26, 2019 was $270.6 million compared to $267.4 million for the same period in the prior year.
more detail at: http://neiman.gcs-web.com/static-files/59cb95e6-13d6-46bb-9fa3-6499508b895e

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