Home / Knowledge / News / Apparel/Garments / Neiman Marcus posts Q4 & fiscal year 2010 results
Neiman Marcus posts Q4 & fiscal year 2010 results
15
Sep '10
Neiman Marcus, Inc. reported financial results for both the fourth quarter and fiscal year ended July 31, 2010. For the fourth quarter of fiscal year 2010, the Company reported total revenues of $826.3 million compared to $768.0 million in the prior year. Comparable revenues increased 6.5 percent. Operating earnings for the fourth quarter of fiscal year 2010 were $4.5 million compared to an operating loss of $192.1 million for the fourth quarter of fiscal year 2009.

The Company's Adjusted operating loss for the fourth quarter of fiscal year 2009, excluding non-cash impairment charges of $143.1 million, as described below under “Other Items”, was $49.0 million.

The Company reported a net loss of $32.8 million for the fourth quarter of fiscal year 2010 compared to a net loss of $168.6 million in the prior year. EBITDA for the fourth quarter of fiscal year 2010 was $59.8 million compared to a loss of $137.4 million in the prior year. Adjusted EBITDA for the fourth quarter of fiscal year 2009 was $5.7 million.

For fiscal year 2010, the Company reported total revenues of $3.69 billion compared to $3.64 billion in the prior year. Comparable revenues decreased 0.1 percent. The Company recorded operating earnings for fiscal year 2010 of $231.8 million compared to an operating loss of $652.9 million for the comparable period a year ago. The Company's Adjusted operating earnings for fiscal year 2009, excluding non-cash impairment charges of $703.2 million, as described below under “Other Items”, were $50.3 million.

The Company reported a net loss of $1.8 million for fiscal year 2010 compared to a net loss of $668.0 million in the prior year. EBITDA for fiscal year 2010 was $446.9 million compared to a loss of $429.4 million in the prior year. Adjusted EBITDA for fiscal year 2009 was $273.8 million.

This release contains information regarding the Company's Adjusted operating earnings (loss), EBITDA and Adjusted EBITDA, all of which are non-GAAP financial measures. A reconciliation of these figures to the most directly comparable GAAP figures, together with certain other information, can be found at the end of this release.

Other Items
The Company recorded non-cash impairment charges of $703.2 million in fiscal year 2009 which represents 1) $329.7 million pretax impairment charge related to the writedown to fair value of goodwill, 2) $343.2 million pretax impairment charge related to the writedown to fair value of the net carrying value of tradenames and 3) $30.3 million pretax impairment charge related to the writedown to fair value of the net carrying value of certain long-lived assets.

Neiman Marcus Inc

Must ReadView All

Textiles | On 29th May 2017

Special package creates 7,50,000 jobs in garment sector

The special garment package of Rs 6,000 crore that was introduced by...

Md Siddiqur Rahman, president, BGMEA, addressing a press conference with other dignitaries. Courtesy: BGMEA

Apparel/Garments | On 29th May 2017

BGMEA asks govt for 5% incentive for 2 years in Budget

The Bangladesh Garment Manufacturers and Exporters Association...

Textiles | On 29th May 2017

Tintex, Bruckner bring new effects to knitted fabric

The textile company Tintex has joined hands with the system supplier...

Interviews View All

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Arvind Saraf
Triveni Sarees

e-Commerce is still evolving fast with constant flux and surprises

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Tony Ward
Tony Ward

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

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:
May 2017

May 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