Home / Knowledge / News / Apparel/Garments / Neiman Marcus revenues grow 6.25% in Q2 FY'13
Neiman Marcus revenues grow 6.25% in Q2 FY'13
28
Feb '13
Neiman Marcus, Inc. reported financial results for the second quarter of fiscal year 2013. For the 13 weeks ended January 26, 2013, the Company reported total revenues of $1.36 billion compared to $1.28 billion in the prior year. Comparable revenues increased 5.3 percent. Operating earnings for the second quarter of fiscal year 2013 were $124.4 million compared to $108.7 million for the second quarter of fiscal year 2012, an increase of 14.5 percent.

The Company reported net earnings of $40.4 million for the second quarter of fiscal year 2013. Excluding the $9.4 million after-tax loss on debt extinguishment as described below under “Other Items”, the Company’s adjusted net earnings for the second quarter of fiscal year 2013 were $49.8 million compared to net earnings of $40.1 million in the prior year. EBITDA for the second quarter of fiscal year 2013 was $169.7 million compared to EBITDA of $152.4 million for the second quarter of fiscal year 2012.

For the 26 weeks ended January 26, 2013, the Company reported total revenues of $2.43 billion compared to $2.28 billion in the prior year. Comparable revenues increased 5.4 percent. The Company reported operating earnings for the 26 weeks ended January 26, 2013 of $252.2million compared to operating earnings of $231.5 million for the comparable period a year ago, an increase of 9.0 percent.

The Company reported net earnings of $90.1 million for the 26 weeks ended January 26, 2013. Excluding the $9.4 million after-tax loss on debt extinguishment as described below under “Other Items”, the Company’s adjusted net earnings for the 26 weeks ended January 26, 2013 were $99.5 million compared to net earnings of $88.5 million in the prior year. EBITDA for the 26 weeks ended January 26, 2013 was $342.9 million compared to EBITDA of $320.7 million for the 26 weeks ended January 28, 2012.

Other Items

The Company incurred a pre-tax loss on debt extinguishment of $15.6 million (or $9.4 million after-tax) which included 1) costs of $10.7 million related to the tender and redemption of its senior subordinated notes and 2) the write-off of $4.9 million of debt issuance costs related to the extinguished debt facility. The total loss on debt extinguishment was recorded in the second quarter of fiscal year 2013 as a component of interest expense.

Non-GAAP Financial Measures

The Company's financial results are provided both in accordance with generally accepted accounting principles (GAAP) and using certain non-GAAP financial measures. In particular, the Company presents the non-GAAP financial measures adjusted net earnings, which excludes certain charges such as the Company's loss on debt extinguishment, and EBITDA. 

Neiman Marcus, Inc


Must ReadView All

Textiles | On 23rd Jun 2017

Ralph Lauren ex-president Tiger of Sweden's new CEO

Hans-Christian Meyer, former president of Ralph Lauren Corporation,...

Apparel/Garments | On 23rd Jun 2017

Uware Brands into licensing agreement with Polaroid

Uware Brands has entered into a licensing agreement with Polaroid for ...

Textiles | On 23rd Jun 2017

Casper raises total funding of $240 million

Casper, the global sleep company launched three years ago has...

Interviews View All

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
June 2017

June 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search