Neiman Marcus 2012 Annual Report Download - page 29
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Table of Contents
Set forth in the following table is certain summary information with respect to our operations for the periods indicated.
Fiscal year ended
(in millions, except sales per square foot and number of stores)
August 3,
2013
July 28,
2012
July 30,
2011
REVENUES
Specialty Retail Stores $3,616.9 $3,466.6 $ 3,245.2
Online 1,031.3 878.8 757.1
Total $ 4,648.2 $ 4,345.4 $4,002.3
OPERATING EARNINGS
Specialty Retail Stores $411.4 $ 391.2 $ 344.9
Online 157.7 132.4 113.0
Corporate expenses (62.2) (68.4)(65.7)
Equity in loss of foreign e-commerce retailer (13.1) (1.5) —
Amortization of intangible assets and favorable lease commitments (47.4)(50.1)(62.5)
Total $446.4 $403.6 $ 329.7
OPERATING PROFIT MARGIN
Specialty Retail Stores 11.4%11.3%10.6%
Online 15.3%15.1%14.9%
Total 9.6%9.3%8.2%
CHANGE IN COMPARABLE REVENUES (1)
Specialty Retail Stores 2.2%6.0%7.5%
Online 15.7%16.1%11.0%
Total 4.9%7.9%8.1%
SALES PER SQUARE FOOT (2)
Specialty Retail Stores $552 $535 $505
STORE COUNT
Neiman Marcus and Bergdorf Goodman full-line stores:
Open at beginning of period 44 43 43
Opened during the period — 1 —
Closed during the period (1) — —
Open at end of period 43 44 43
Last Call stores:
Open at beginning of period 33 30 28
Opened during the period 3 4 2
Closed during the period —(1) —
Open at end of period 36 33 30
NON-GAAP FINANCIAL MEASURE
EBITDA (3) $ 635.3 $ 583.8 $ 524.7
(1) Comparable revenues include 1) revenues derived from our retail stores open for more than fifty-two weeks, including stores that have been relocated
or expanded and 2) revenues from our Online operation. Comparable revenues exclude revenues of closed stores. We closed our Neiman Marcus
store in Minneapolis in January 2013. The calculation of the change in comparable revenues for fiscal year 2013 is based on revenues for the fifty-
two weeks ended July 27, 2013 compared to revenues for the fifty-two weeks ended July 28, 2012.
(2) Sales per square foot are calculated as Neiman Marcus stores and Bergdorf Goodman stores net sales divided by weighted average square footage.
Weighted average square footage includes a percentage of year-end square footage for new and closed stores equal to the percentage of the year during
which they were open. Our small format stores (Last Call and CUSP) are not included in this calculation. The calculation of sales per square foot
for fiscal year 2013 is based on revenues for the fifty-two weeks ended July 27, 2013.
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