Headlines

Neiman Marcus Announces 2015 Sales, Profits

Plans to raise up to $1 billion by selling stock

Published

9 years ago

September 24, 2015

Neiman Marcus (Dallas, Texas) released its latest quarterly earnings, as well as some financial plans to pay down its debt and increase profits.

The company saw sales increase across the board during its fourth quarter: Total sales were up 4.9 percent, same-store sales increased 1.9 percent and online sales increased 8.2 percent. For 2015, the retailer reported its highest level of total annual sales at $5.1 billion. It also posted a full-year profit of $14.9 million. Last year, it reported a net loss of $147.2 million.

According to The Dallas Morning News, the company currently carries $4.55 billion of long-term debt, which cost the company $290 million in interest payments during its last fiscal year. One way that it plans to pay down those debts is by selling up to $1 billion worth of stock to the public.

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