US: Sale charges hit Q1 Neiman Marcus earnings
- Q1 net loss of US$13.1m
- Net sales up 6.7%
- Charges of $13.1m related to its sale
Neiman Marcus Group swung to a loss in the first quarter as charges from its sale to a private-equity firm hit earnings.
In the three months ended 2 November, the company recorded a net loss of US$13.1m compared to earnings of $49.6m a year earlier.
An investor group led by Ares Management and Canada Pension Plan Investment Board completed a $6bn acquisition of Neiman Marcus in October. Charges from the deal amounted to $109.4m.
The company reported total revenues in the quarter of $1.13bn, a 5.7% increase on $1.07bn recorded last year.
Upscale department store retailer Neiman Marcus has announced a series of changes to its management team by merging its online and store teams. ...
Neiman Marcus, Inc. - SWOT, Strategy and Corporate Finance Report, is a source of comprehensive company data and information. The report covers the company’s structure, operation, SWOT analysis, produ...
Upscale department store Neiman Marcus Group moved to a net loss in its second quarter as costs related to a data breach hit earnings....
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