- Prachi Singh |
For its second quarter, Neiman Marcus Group Ltd LLC, reported total revenues of 1.39 billion dollars, representing an increase in comparable sales of 0.7 percent from the same quarter a year ago. During the quarter, the company reported a net loss of 29 million dollars compared with net earnings of 372.5 million dollars for the second quarter of fiscal year 2018, which the company said, included a provisional non-cash income tax benefit of approximately 387.8 million dollars.
“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, fuelled 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 in a statement.
Neiman Marcus posts H1 comparable sales growth of 1.6 percent
For the 26 weeks ended January 26, 2019, the company reported total revenues of 2.50 billion dollars, representing an increase in comparable sales of 1.6 percent. The company’s net loss was 57.2 million dollars for the 26 weeks compared with net earnings of 346.3 million dollars in the prior year.
Adjusted EBITDA, for the quarter was 134.4 million dollars compared to 154.8 million dollars for the same quarter a year ago. Excluding MyTheresa, the company added, US adjusted EBITDA was 134.4 million dollars compared to 147.5 million dollars for the second quarter a year ago.
Adjusted EBITDA for the 26 weeks was 269.7 million dollars compared to 277.2 million dollars for the same period in the prior year. Excluding MyTheresa, US, adjusted EBITDA was 270.6 million dollars compared to 267.4 million dollars for the same period in the prior year.