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Neiman Marcus Q4 FY'13 sales up 10.89%
20
Sep '13
Neiman Marcus Group LTD Inc. reported financial results for both the fourth quarter and fiscal year ended August 3, 2013.

For the fourth quarter of fiscal year 2013, the Company reported total revenues of $1.12 billion compared to $1.01 billion in the prior year. Comparable revenues increased 5.4 percent. The Company reported operating earnings for the fourth quarter of fiscal year 2013 of $43.9 million compared to $25.5 million for the fourth quarter of fiscal year 2012.

The Company reported net earnings of $2.9 million for the fourth quarter of fiscal year 2013 compared to a net loss of $11.1 million in the prior year. EBITDA for the fourth quarter of fiscal year 2013 was $96.4 million compared to EBITDA of $71.9 million in the fourth quarter of fiscal year 2012.

For fiscal year 2013, the Company reported total revenues of $4.65 billion compared to $4.35 billion in the prior year. Comparable revenues increased 4.9 percent. The Company reported operating earnings for fiscal year 2013 of $446.4 million compared to operating earnings of $403.6 million for fiscal year 2012.

The Company reported net earnings of $163.7 million for 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 fiscal year 2013 were $173.1 million compared to net earnings of $140.1 million in the prior year. EBITDA for fiscal year 2013 was $635.3 million compared to EBITDA of $583.8 million for fiscal year 2012.

For the 53rd week of fiscal year 2013, revenues were $61.9 million, operating earnings were $10.7 million and EBITDA was $13.6 million.

Neiman Marcus

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