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February 10, 2016 12:02 PM ET

Multiline Retail

Company Overview of Neiman Marcus Group, Inc.

Company Overview

Neiman Marcus Group, Inc., through its subsidiaries, operates as an omni-channel luxury fashion retailer primarily in the United States. It provides women’s couture and designer apparel, contemporary sportswear, men’s clothing and accessories, children’s apparel, handbags, shoes, cosmetics, and precious and designer jewelry; and decorative home accessories, fine China products, crystal and silver products, and gift items under the Neiman Marcus, Bergdorf Goodman, and MyTheresa brand names. The company also offers off-price fashion products catering to price-sensitive customers under the Last Call brand; fashion products catering to younger customers focused on contemporary styles under the C...

1618 Main Street

One Marcus Square

Dallas, TX 75201

United States

15,100 Employees

Phone:

214-743-7600

Key Executives for Neiman Marcus Group, Inc.

Chief Executive Officer, President and Director
Age: 58
President and Chief Merchandising Officer
Age: 51
Chief Financial Officer, Chief Operating Officer and Executive Vice President
Age: 53
President of Bergdorf Goodman and President of NMG International
Age: 44
President of Neiman Marcus Stores and Online
Age: 45
Compensation as of Fiscal Year 2015.

Neiman Marcus Group, Inc. Key Developments

Neiman Marcus Group, Inc., Q1 2016 Earnings Call, Dec 14, 2015

Neiman Marcus Group, Inc., Q1 2016 Earnings Call, Dec 14, 2015

Neiman Marcus Group Ltd LLC Reports Unaudited Consolidated Earnings Results for the First Quarter Ended October 31, 2015; Provides Capex Guidance for the Fiscal Year 2016

Neiman Marcus Group LTD LLC reported unaudited consolidated earnings results for the first quarter ended October 31, 2015. For the first quarter, the Company reported total revenue of $1.16 billion, representing a decrease of 1.8% compared to total revenue of $1.19 billion for the first quarter of fiscal year 2015. During this same period, comparable revenues decreased 5.6% and the Company reported a net loss of $10.5 million compared to net earnings of $0.2 million for the first quarter of fiscal year 2015. Adjusted EBITDA for the first quarter of fiscal year 2016 was $164.3 million compared to Adjusted EBITDA of $194.3 million for the first quarter of fiscal year 2015. EBITDA was $139.7 million compared to EBITDA of $166.1 million a year ago. Operating earnings were $54,818,000 against $73,085,000 a year ago. Loss before income taxes was $16,867,000 against earnings of $475,000 a year ago. Gross capital expenditures were $75.0 million against $56.4 million a year ago. Net CapEx was $64 million compared to $55 million for the same period last year. For fiscal 2016, the company currently expects gross capital expenditures to be in the range of $320 million to $350 million, and on a net basis, approximately $270 million to $300 million.

Neiman Marcus Cuts 500 Jobs in Reshuffling; to Open Store in Long Island

Neiman Marcus laid off 500 employees on October 1, 2015, or about 3% of its workforce of 16,000, as it tries to cut costs to pay for new stores and acquisitions. The cuts include about 157 people in Dallas, where the luxury retailer is headquartered and employs about 4,800 people. The layoffs targeted both longtime and new employees. The cuts also included people who recently won top in-house awards. The company announced that store under construction in Long Island will open in February. Two more locations have been announced: Fort Worth in 2017 and Hudson Yards in Manhattan in 2018. The Fort Worth store will replace one of the company's oldest stores: the Ridgmar Mall location, built in 1977.

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