NEIMAN MARCUS REPORTS INCREASED EARNINGS FOR THIRD QUARTER
Texas-based retailer Neiman Marcus Group has reported financial results for its third quarter of fiscal year 2018 ended April 28, 2018.
For the third quarter, the retailer reported total revenues of $1.17 billion, representing an increase of 4.8 period compared to total revenues of $1.11 billion for the third quarter of fiscal year 2017. During this same period, comparable revenues increased 6 percent and the company reported a net loss of $19.9 million compared to a net loss of $24.9 million for the third quarter of fiscal year 2017. Adjusted EBITDA, which is described on, for the third quarter of fiscal year 2018 was $143.8 million compared to $135.9 million in the prior year
On a year-to-date basis, the company reported total revenues of $3.77 billion, representing an increase of 5.1 percent compared to total revenues of $3.59 billion for the same period in the prior year. During this same period, comparable revenues increased 5.7 percent. In addition, it reported net earnings of $326.4 million during this period compared to a net loss of $165.5 million in the prior year, while year-to-date Adjusted EBITDA was $421.0 million compared to $385.6 million for the same period in the prior year
“Our strategy is working, so we will continue to be laser-focused on areas that set us apart from competitors – innovation that enhances the customer experience, a strong high-performance culture and new partnerships with both emerging and industry-leading luxury brands,” said CEO Geoffroy van Raemdonck. “Our customers trust us to be a curator of trends today and tomorrow, and we are delivering for them.”
