Neiman Marcus Cuts Q3 Loss

For the third fiscal quarter ended April 28, Neiman Marcus Group posted a net loss of $19.9 million versus a net loss of $24.9 million in the period a fiscal year earlier.

Comparable revenues increased 6% in the quarter year over year. Net revenues in the quarter were $1.17 billion versus $1.11 billion in the period a year before. Operating earnings were $50.7 million as compared to $38.3 million in the year-before quarter.

“Our strategy is working, so we will continue to be laser-focused on areas that set us apart from competitors: innovation that enhances the customer experience, a strong high-performance culture and new partnerships with both emerging and industry-leading luxury brands,” said Geoffroy van Raemdonck, Neiman Marcus CEO. “Our customers trust us to be a curator of trends today and tomorrow, and we are delivering for them.”

Neiman Marcus Group is owned by entities affiliated with Ares Management and the Canada Pension Plan Investment Board, according to a United States Securities and Exchange Commission filing.