Neiman Marcus 2009 Annual Report Download - page 99

Table of Contents
NEIMAN MARCUS, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
Fiscal year ended
(in thousands)
July 31,
2010
August 1,
2009
August 2,
2008
Revenues $ 3,692,768 $ 3,643,346 $ 4,600,536
Cost of goods sold including buying and occupancy costs (excluding
depreciation) 2,419,545 2,536,764 2,934,968
Selling, general and administrative expenses (excluding depreciation) 885,406 882,737 1,045,447
Income from credit card program, net (59,076) (49,966) (65,727)
Depreciation expense 141,839 150,759 148,411
Amortization of intangible assets 55,381 54,826 54,314
Amortization of favorable lease commitments 17,878 17,877 17,878
Impairment charges — 703,266 31,261
Other income — — (32,450)
Operating earnings (loss) 231,795 (652,917) 466,434
Interest expense, net 237,108 235,574 239,805
(Loss) earnings before income taxes (5,313) (888,491) 226,629
Income tax (benefit) expense (3,475)(220,445)83,816
Net (loss) earnings $ (1,838)$ (668,046)$ 142,813
See Notes to Consolidated Financial Statements.
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