By and  on March 11, 2009

Writedowns of more than half a billion dollars led to a $509.3 million net loss in Neiman Marcus Inc.’s second quarter, and the retailer said Wednesday it would adjust assortments, return merchandise and seek greater markdown money as the economy continues to struggle.


The loss for the three months ended Jan. 31 compares with net profits of $44.3 million in the corresponding period a year earlier. Excluding $560.1 million in impairment charges, the company’s operating loss for the quarter was $32.6 million versus operating income of $134.3 million in the second quarter of last year. Adjusted earnings before interest, taxes, depreciation and amortization was $24.6 million, compared with $187.3 million the previous year.

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