Neiman Marcus posts loss in second quarter | Retail News USA
Home » News » Retailers News » Neiman Marcus Posts Loss In Second Quarter

Neiman Marcus posts loss in second quarter


READ MORE ON Fashion RetailerNeiman MarcusRetailer News USA

Neiman Marcus

Image Courtesy:

American luxury fashion retailer Neiman Marcus Group has announced financial results for the second quarter ended January 28, 2017 and it also hinted to introduce some changes including a sale or a change in capital structure. During the period under review, the retailer noted a decrease of 6.1 per cent and managed to achieve total revenue of US $ 1.40 billion compared to US $ 1.49 billion for the same period in corresponding period last year.

The company reported a net loss of US $ 117.1 million compared to net earnings of US $ 7.9 million for the second quarter of fiscal year 2016. Net revenue for the quarter fell 6.1 per cent to US $ 1.4 billion. For 2016, the retailer noted a decrease of 6.7 per cent and its revenue stood at US $ 2.47 billion and net loss was US $ 140.6 million.

Also ReadNeiman Marcus Group withdraws its IPO

Investment bank Lazard Ltd. has been hired by Neiman Marcus to restructure its debt, which stems from its US $ 6 billion buyout in 2013. In addition, earlier this year the company withdrew its IPO due to its US $ 5 billion debt and US $ 6.4 billion in liabilities.


Have some news? Let us know on

Comments are closed.

Recommended by Apparel Resources

ShopClues starts GST compliance services for MSMEs

India’s online marketplace, ShopClues, has decided to conduct workshops to help MSME merchants to have a smooth transition to Goods and Services Tax...

Under Armour Appoints Ex-Aldo CEO as President, COO

Under Armour, Inc. has announced the appointment of Patrik Frisk as company's President and Chief Operating Officer (COO) effective July 10. In conjunction...

Amazon India launches sixth fulfilment Centre in Mumbai

Ecommerce leader Amazon India on Tuesday announced the launch of its sixth fulfilment centre (FC) for Mumbai and the eighth in Maharashtra, a...

New Look Appoints New Global Creative Chief

The UK Fashion brand, New Look, gets Paula Dumont Lopez as the new Chief Creative Officer of the firm’s global operations, succeeding Roger...

NRF rolls out ‘Top 100 Retailers’ List of US

The National Retail Federation’s (NRF) STORES Magazine along with Kantar Retail have released the annual Top 100 Retailers List of US. The largest...

Future Group to expand ‘Central’

India-based Future Group's lifestyle and fashion retail outlet Central is planning to invest Rs. 300 crore to expand its reach. Currently, it operates...

Future Group to focus on fashion business, not on e-commerce

Future Group, a prominent player in the Indian fashion retail sector, has decided to pay attention on its fashion business to make it...

KIODA to enter Indian market

Malaysian retail chain KIODA, which pledges to provide the fans with quality products at affordable price, has joined hands with Franchise India to...

Pepe Jeans to enhance presence in India

Pepe Jeans is planning to increase its store count in India. "Our target is to open 50 stores in the Indian market, which...

Gerry Weber’s Retail Head departs

Norbert Steinke, Chief Retail Officer of Gerry Weber and Hallhuber, has resigned from his post with immediate effect. The 56-year-old opted to resign...