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
Founded in 1907
Neiman Marcus Cuts 500 Jobs in Reshuffling; to Open Store in Long Island
Oct 2 15
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.
Neiman Marcus, Inc. Announces Expansion Plans
Sep 22 15
Neiman Marcus, Inc. announced that its plan to modernize its full-line Neiman Marcus stores and its Bergdorf Goodman store in Manhattan. The company's new Roosevelt Field store in Long Island, New York is progressing as planned toward the February 2016 opening. The exterior of the store is largely complete with a cladding of granite and skylight. The company plans to open the company's first Neiman Marcus store in New York City in Hudson Yards, a new development on the southwest side of Manhattan. The company is moving swiftly with the plans for this 250,000-square-foot store and currently anticipate its opening in calendar year 2018.
Neiman Marcus Group Ltd Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Fiscal Year Ended August 1, 2015; Provides Capital Spending Guidance for the Fiscal Year 2016
Sep 22 15
Neiman Marcus Group LTD Inc. announced unaudited consolidated earnings results for the fourth quarter and fiscal year ended August 1, 2015. For the quarter, the company reported revenue was $1,166,671,000 against $1,112,680,000 a year ago. Operating earnings was $18,159,000 against $7,170,000 a year ago. Loss before income taxes was $53,845,000 against $65,488,000 a year ago. Net loss was $32,882,000 against $42,056,000 a year ago. Capital expenditure was $87.5 million against $62.4 million a year ago. EBITDA was $97.0 million against $96.7 million a year ago. Adjusted EBITDA was $107.9 million against $111.3 million a year ago.
For the year, the company reported revenue was $5,095,087,000 against $4,839,331,000 a year ago. Operating earnings was $317,999,000 against $40,967,000 a year ago. Earnings before income taxes were $28,076,000 against loss of $229,087,000 a year ago. Net earnings were $14,949,000 against loss of $147,181,000 a year ago. Capital expenditure was $270.5 million against $174.0 million a year ago. EBITDA was $640.8 million against $348.9 million a year ago. Adjusted EBITDA was $710.6 million against $698.4 million a year ago.
Including the capital related to the projects, current expectations for capital spend in fiscal year 2016, on a gross basis to be in the range of $320 million to $350 million and on a net basis, approximately $270 million to $300 million.