Neiman Marcus Group LTD LLC (NMS) swung to a net loss for the quarter ended Jan. 28, 2017. The company has made a net loss of $117.07 million in the quarter, against a net profit of $7.88 million in the last year period. Revenue during the quarter dropped 6.15 percent to $1,395.58 million from $1,486.96 million in the previous year period. Gross margin for the quarter contracted 138 basis points over the previous year period to 29.60 percent. Operating margin for the quarter stood at negative 8.63 percent as compared to a positive 5.72 percent for the previous year period.
Operating loss for the quarter was $120.38 million, compared with an operating income of $85.02 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $126.80 million compared with $183 million in the prior year period. At the same time, adjusted EBITDA margin contracted 322 basis points in the quarter to 9.09 percent from 12.31 percent in the last year period.
Working capital declines
Neiman Marcus Group LTD LLC has witnessed a decline in the working capital over the last year. It stood at $505.60 million as at Jan. 28, 2017, down 7.66 percent or $41.93 million from $547.53 million on Jan. 30, 2016. Current ratio was at 1.55 as on Jan. 28, 2017, down from 1.65 on Jan. 30, 2016. Days inventory outstanding has decreased to 56 days for the quarter compared with 112 days for the previous year period. At the same time, days payable outstanding went up to 33 days for the quarter from 27 for the same period last year.
Debt remains almost stable T
otal debt of Neiman Marcus Group LTD LLC remained almost stable for the quarter at $4,615.34 million, when compared with the last year period. Total debt was 56.58 percent of total assets as on Jan. 28, 2017, compared with 52.08 percent on Jan. 30, 2016.
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