By  on September 18, 2018

Neiman Marcus Group, showing revenue gains, substantially narrowed its loss for its fiscal fourth quarter ended July 28 to $75.3 million, from $366.3 million in the prior year.

The loss included non-cash impairment charges of $357 million. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) were $56.1 million compared to $48.2 million in the prior year. EBITDA excludes certain tax payments, adjustments for purchase accounting, changes in, or cash requirements for working capital needs, capital expenditures, and the company’s significant interest expense, and does not reflect the cash requirements necessary to service interest or principal payments on debt. Interest expense was $77.1 million last quarter.

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