Neiman’s Profits Rise

WWD

Net earnings at Neiman Marcus Group LTD LLC for the second fiscal quarter ended Jan. 31, rose to $27.8 million compared to a net loss of $84 million in the year-ago period.

Adjusted EBITDA [earnings before interest, taxes, depreciation and amortization] for the second quarter  was $200.3 million compared to $191.9 million in the second quarter of fiscal year 2014.

The luxury retailer said its comparable revenues increased 5.6 percent with total revenues of $1.52 billion compared to $1.43 billion in the prior year.

Last October, the company acquired MyTheresa, based in Munich, and in October 2013 Neiman Marcus Group was acquired by Ares Management LLC and the Canada Pension Plan Investment Board.

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