Neiman Marcus's loss narrows on higher sales

Neiman Marcus Group on Tuesday reported financial results for the fourth quarter and fiscal year ended August 1, 2015.

For the fourth quarter of fiscal year 2015, the Company reported total revenues of $1.17 billion, representing an increase of 4.9% compared to total revenues of $1.11 billion for the fourth quarter of fiscal year 2014.

During this same period, comparable revenues increased 1.9% and the Company reported a net loss of $32.9 million compared to a net loss of $42.1 million for the fourth quarter of fiscal year 2014. Adjusted EBITDA for the quarter was $107.9 million compared to Adjusted EBITDA of $111.3 million for the same period a year prior

For fiscal year 2015, the Company reported total revenues of $5.10 billion, representing an increase of 5.3% compared to total revenues of $4.84 billion for fiscal year 2014.1

During this same period, comparable revenues increased 3.9% and the Company reported net earnings of $14.9 million compared to a net loss of $147.2 million for fiscal year 2014. Adjusted EBITDA for fiscal year 2015 was $710.6 million compared to Adjusted EBITDA of $698.4 million for fiscal year 2014.