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.
Super-influencer @chiaraferragni doesn't miss a beat— or a party. Last night, she inaugurated Pomellato's newest boutique on Rodeo Drive, decked out in bling from the jewelry brand. At the event, Ferragni took some time to sit down with us to discuss motherhood, being a newlywed, and the hotly-anticipated documentary she is currently filming.
Photographed by @chelsealaurenla
As the conversation around sustainability only grows stronger in fashion circles, Everlane has made a new declaration: it’s saying goodbye to virgin plastic. The company, whose ethos is all about “radical transparency,” in terms of pricing and ethical factories, plans to be completely free of virgin plastics by 2021. “We’re producing millions of units and every unit that goes out is wrapped in plastic,” said founder and CEO, Michael Preysman. “At the beginning, it was like, ‘Hey, let’s just take off all these plastic bags.’ There are a lot of complications to that. Everything you buy in the world comes wrapped in plastic when it comes out of the factory.”
Meet Flamingo. The direct-to-consumer brand is Harry’s first foray into products designed specifically for women. The line goes beyond shaving, venturing into a space that is typically relegated to darker corners of the drugstore — at-home waxing. #wwdbeauty