Neiman Marcus 2002 Annual Report Download - page 17
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Operating Results
Set forth in the following table is certain summary information with respect to the Company's operations for the most recent three
fiscal years.
Years Ended
(dollars in millions)
August 2,
2003
August 3,
2002
July 28,
2001
REVENUES
Specialty Retail Stores $ 2,524.8 $ 2,433.2 $ 2,504.8
Direct Marketing 493.5 444.0 437.9
Other (1) 79.8 71.1
Total $ 3,098.1 $ 2,948.3 $ 3,015.5
OPERATING EARNINGS
Specialty Retail Stores $ 198.2 $ 170.5 $ 201.0
Direct Marketing 45.8 22.8
Other (1) (21.9) (19.0)
Effect of change in vacation policy — 16.6
Impairment and other charges — (13.2)
Total $ 222.1 $ 177.7 $ 193.6
OPERATING PROFIT MARGIN
Specialty Retail Stores 7.9% 7.0%
Direct Marketing 9.3% 5.1%
Total 7.2% 6.0%
COMPARABLE REVENUES (2)
Specialty Retail Stores 1.8% (5.3)%
Direct Marketing 12.5% 0.2%
Total 3.8% (4.6)%
STORE COUNT (3)
Neiman Marcus and Bergdorf Goodman stores:
Open at beginning of period 35 34
Opened during the period 2 1
Open at end of period 37 35
Clearance centers:
Open at beginning of period 12 10
Opened during the period 2 2
Open at end of period 14 12
(1) Other includes the operations of the Brand Development Companies and corporate expenses.
(2) Comparable revenues include 1) revenues derived from the Company's retail stores open for more than 52 weeks, including stores
that have been relocated or expanded, 2) revenues from the Company's Direct Marketing operations and 3) revenues from the
Company's Brand Development Companies. The calculation of the change in comparable revenues for 2003 is based on revenues
for the 52 weeks ended August 2, 2003 compared to revenues for the 52 weeks ended July 27, 2002. The calculation for the
change in comparable revenues for 2002 is based on revenues for the 52 weeks ended July 27, 2002 compared to revenues for the
52 weeks ended July 28, 2001.
(3) The Company's Neiman Marcus Galleries stores have been excluded.
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