Home / Knowledge / News / Apparel/Garments / Apparel marketer Neiman Marcus slips into massive loss
Apparel marketer Neiman Marcus slips into massive loss
Sep '14
US apparel marketer - Neiman Marcus Group slipped in to massive losses for fiscal year ended August 2, 2014, when compared to earnings in the previous fiscal year.

The apparel marketer reported a net loss of $147.2 million for fiscal year 2014 compared to net earnings of $163.7 million in fiscal year 2013.

Excluding purchase accounting and certain transaction related and other expenses, its adjusted net earnings for fiscal year 2014 were $137.8 million compared to $200.3 million in the prior year.

For fiscal year 2014, Neiman Marcus posted revenues of $4.84 billion against $4.65 billion in the prior fiscal year, while comparable sales rose 5.5 percent.

EBITDA for fiscal year 2014 also fell to $348.9 million versus EBITDA of $635.3 million for fiscal year 2013.

Again, excluding purchase accounting and certain transaction related and other expenses adjusted EBITDA for fiscal year 2014 was $677.6 million against $671.5 million for fiscal year 2013.

Earlier on September 15, Neiman Marcus had said it has acquired MyTheresa.com global online luxury website and the Theresa flagship specialty store in Munich, Germany.

The purchase price is approximately €150 million, subject to certain adjustments, and an earn-out based on future performance.

The garment marketer had said it plans to finance the acquisition through a combination of cash and debt. (AR)

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 27th Jun 2017

Govt defers tax deduction at source provision under GST

E-commerce players in India will not be required to deduct tax on...

Apparel/Garments | On 27th Jun 2017

Future Group aims Rs 12,000 crore in fashion business

Future Group, which runs retail stores across India under various...

Textiles | On 27th Jun 2017

AEPC & NSDL to help exporters with GST compliances

Apparel Export Promotion Council (AEPC) and National Securities...

Interviews View All

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Kai Poehler
Voith Paper GmbH & Co. KG

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

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Pranav Mishra

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


news category

Related Categories:
July 2017

July 2017

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


Browse Our Archives


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