By  on March 13, 2019

The Neiman Marcus Group will put a glow on its business with Friday’s opening of its big Manhattan flagship in Hudson Yards, yet there’s still work to be done to lift profitability and escape the specter of looming debt maturities.

Acknowledging riding an up-and-down holiday season, NMG on Tuesday reported a net loss of $29 million in the fiscal second quarter ended Jan. 26, compared with net earnings of $372.5 million in the second quarter of 2018. However, the year-ago period included a $387 million tax benefit.

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