Neiman Marcus Q1 net loss widens

Neiman Marcus Group Ltd LLC announcing its financial update for the first quarter ended October 27, 2018 said that total revenues of 1.10 billion dollars, represented an increase in comparable revenues of 2.8 percent from the same quarter a year ago.

“Our first quarter results, marking our fifth consecutive quarter of comparable revenue increases, demonstrate the ongoing stabilization of our business. We continue to focus on delivering on our plan this year, while also positioning the company for future growth.” Said Geoffroy van Raemdonck, Chief Executive Officer, Neiman Marcus Group in a statement.

For the quarter, the company reported a net loss of 28.2 million dollars compared with 26.2 million dollars for the first quarter of fiscal year 2018. Adjusted EBITDA was 135.3 million dollars compared to 122.3 million dollars for the first quarter a year ago.

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