Home / Knowledge / News / Apparel/Garments / Apparel marketer Neiman Marcus slips into massive loss
Apparel marketer Neiman Marcus slips into massive loss
19
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

Courtesy: Fashion Revolution/Fashion Transparency Index

Fashion | On 23rd Apr 2018

Top global fashion brands now more transparent

Fashion Revolution’s Fashion Transparency Index 2018 reveals Adidas...

Japan’s clothing imports up 4% in fiscal 2017

Apparel/Garments | On 23rd Apr 2018

Japan’s clothing imports up 4% in fiscal 2017

Japan’s imports of clothing and accessories increased by 4 per cent...

PVH, WWF tie up to protect water bodies in Ethiopia, India

Apparel/Garments | On 23rd Apr 2018

PVH, WWF tie up to protect water bodies in Ethiopia, India

PVH Corp , parent company of brands like Tommy Hilfiger, Calvin...

Interviews View All

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Giorgio Mantovani
Corman S.p.A

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

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Steve Cole
Xerium Technologies

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

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

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


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


April 2018

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


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