Neiman Marcus Group LTD LLC saw its loss widen to $23.51 million in the quarter ended compared with $10.54 million a year ago. Revenue during the quarter dropped 7.36 percent to $1,079.11 million from $1,164.90 million in the previous year period. Gross margin for the quarter contracted 167 basis points over the previous year period to 35.14 percent. Total expenses were 97.66 percent of quarterly revenues, up from 95.29 percent for the same period last year. That has resulted in a contraction of 236 basis points in operating margin to 2.34 percent.
Operating income for the quarter was $25.30 million, compared with $54.82 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $122.90 million compared with $164.30 million in the prior year period. At the same time, adjusted EBITDA margin contracted 272 basis points in the quarter to 11.39 percent from 14.10 percent in the last year period.
Debt remains almost stable
Total debt of Neiman Marcus Group LTD LLC remained almost stable for the quarter at $4,802.02 million, when compared with the last year period. Total debt was 56.72 percent of total assets as on Oct. 29, 2016, compared with 52.91 percent on Oct. 31, 2015. Interest coverage ratio deteriorated to 0.35 for the quarter from 0.76 for the same period last year. Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
