Neiman Marcus 2007 Annual Report Download - page 24

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Table of Contents
ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
No matters were submitted to a vote of our security holders during the quarter ended August 2, 2008.
PART II
ITEM 6. SELECTED FINANCIAL DATA
The following selected financial data is qualified in entirety by our consolidated financial statements (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. We derived the selected financial data as of August 2, 2008 and July 28, 2007 and for the fiscal
year ended August, 2, 2008, July 28, 2007, the forty-three weeks ended July 29, 2006 and nine weeks ended October 1, 2005 from our
audited consolidated financial statements and related notes. The selected financial data as of July 29, 2006, July 30, 2005 and July 31,
2004 and for the fiscal years ended July 30, 2005 and July 31, 2004 reflect adjustments to the Predecessor's audited consolidated
financial statements to reclassify the operations of Gurwitch Products, L.L.C. and Kate Spade LLC as discontinued operations.
(Successor) (Predecessor)
(in millions)
Fiscal
year
ended
August 2,
2008
Fiscal
year
ended
July 28,
2007
Forty-three
weeks
ended
July 29,
2006
Nine
weeks
ended
October 1,
2005
Fiscal
year
ended
July 30,
2005
Fiscal
year
ended
July 31,
2004
OPERATING RESULTS
Revenues $ 4,600.5 $ 4,390.1 $ 3,397.7
$ 632.4 $ 3,695.1 $ 3,420.7
Cost of goods sold including buying and
occupancy costs (excluding
depreciation) 2,935.0 2,753.8 2,219.4
371.5 2,349.2 2,201.2
Selling, general and administrative
expenses (excluding depreciation) 1,045.4 1,015.1 802.4
155.6 907.3 842.9
Income from credit card program (65.7) (65.7) (49.4) (7.8) (71.6) (55.8)
Depreciation and amortization 220.6 208.7 166.6
19.2 103.6 96.3
Operating earnings 466.4(1) 476.8(2) 258.7
70.3(3) 397.4(4) 332.2(5)
Earnings from continuing operations
before income taxes 226.6 217.0 41.0
71.2 385.2 316.3
(Loss) earnings from discontinued
operations, net of tax — (22.8) (14.0)
(0.8) 5.0 4.7
Net earnings $ 142.8 $ 111.9 $ 12.5
$ 44.2 $ 248.8 $ 204.8
(Successor) (Predecessor)
(in millions)
August 2,
2008
July 28,
2007
July 29,
2006
July 30,
2005
July 31,
2004
FINANCIAL POSITION
Cash and cash equivalents $ 239.2 $ 141.2 $ 223.7
$ 852.6 $ 364.2
Merchandise inventories 978.0 918.3 793.6
729.3 703.6
Total current assets 1,389.8 1,215.0 1,135.9
1,708.5 1,706.2
Property and equipment, net 1,075.3 1,043.7 1,030.3
836.7 740.1
Total assets 6,582.9 6,501.0 6,608.0
2,660.7 2,617.6
Current liabilities 732.8 767.9 699.1
617.3 727.7
Long-term liabilities $ 4,173.6 $ 4,175.1 $ 4,474.9
$ 457.3 $ 509.1
20