Neiman Marcus 2002 Annual Report Download - page 9

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ITEM 6. SELECTED FINANCIAL DATA
The following selected financial data is qualified in its entirety by the Consolidated Financial Statements of the Company (and the
related Notes thereto) contained in Item 15 and should be read in conjunction with "Management's Discussion and Analysis of
Financial Condition and Results of Operations" in Item 7. The operating results and financial position data for each of the fiscal years
ended August 2, 2003, August 3, 2002, July 28, 2001, July 29, 2000 and July 31, 1999 have been derived from the Company's audited
Consolidated Financial Statements. Additionally, 2002 included fifty-three weeks of operations while the other years presented
consist of fifty-two weeks of operations.
Years Ended
(in millions, except August 2, August 3, July 28, July 29, July 31,
per share data) 2003 2002 2001 2000 1999
OPERATING RESULTS
Revenues $ 3,098.1 $ 2,948.3 $ 3,015.5 $ 2,926.4 $ 2,580.4
Gross margin 1,024.5 951.0 994.6 1,008.1 831.6
Operating earnings 222.1 177.7(1) 193.6(2) 248.4 182.6
Earnings before income taxes, minority
interest and change in accounting principle 205.8 162.2 178.4 223.0 157.6
Net earnings $ 109.3 $ 99.6 $ 107.5 $ 134.0 $ 94.9
Basic earnings per share:
Earnings before change in accounting
principle $ 2.61 $ 2.10 $ 2.28 $ 2.77 $ 1.93
Change in accounting principle -
writedown of intangible assets, net of
taxes (0.31)— — — —
Basic earnings per share $ 2.30 $ 2.10 $ 2.28 $ 2.77 $ 1.93
Diluted earnings per share:
Earnings before change in accounting
principle $ 2.60 $ 2.08 $ 2.26 $ 2.75 $ 1.93
Change in accounting principle -
writedown of intangible assets, net of
taxes (0.31)— — — —
Diluted earnings per share $ 2.29 $ 2.08 $ 2.26 $ 2.75 $ 1.93
August 2,
2003
August 3,
2002
July 28,
2001
July 29,
2000
July 31,
1999
FINANCIAL POSITION
Cash and cash equivalents $ 207.0 $ 178.6 $ 97.3 $ 175.4 $ 29.2
Merchandise inventories 687.1 656.8 648.9 575.3 545.3
Total current assets 1,246.1 1,127.6 1,063.3 1,069.3 841.8
Property and equipment, net 674.2 653.2 586.6 539.7 513.4
Total assets 2,034.4 1,907.5 1,785.9 1,762.1 1,518.9
Current liabilities 530.4 518.5 497.6 492.3 396.2
Long-term liabilities $ 358.0 $ 327.2 $ 338.9 $ 435.1 $ 381.3
(1) For 2002, operating earnings reflect 1) a $16.6 million gain from the change in vacation policy made by the Company
and 2) $13.2 million of impairment and other charges, related primarily to the impairment of certain long-lived assets.
(2) For 2001, operating earnings reflect a $9.8 million impairment charge related to the Company's investment in a third-
party internet retailer.
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