• 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.