Neiman Marcus San Antonio

Neiman marcus reports 2.3% sales dip in second quarter

by Stephen Garner

Neiman MarcusNeiman Marcus Group LTD LLC today reported financial results for its second fiscal quarter ended January 30, 2016. For the second quarter, the company reported total revenues of $1.49 billion, representing a decrease of 2.3% compared to total revenues of $1.52 billion for the second quarter of fiscal year 2015.

During this same period, comparable revenues decreased 2.4% and the company reported net earnings of $7.9 million compared to net earnings of $27.8 million for the second quarter of fiscal year 2015.

Adjusted EBITDA for the second quarter of fiscal year 2016 was $183.0 million compared to Adjusted EBITDA of $205.9 million for the second quarter of fiscal year 2015.

The company also reported results for the 26 weeks ended January 30, 2016, including total revenues of $2.65 billion, representing a decrease of 2.1% compared to total revenues of $2.71 billion in the prior year. Adjusted EBITDA for the 26 weeks ended January 30, 2016 was $347.3 million compared to Adjusted EBITDA of $400.1 million for the 26 weeks ended January 31, 2015.