Neiman Marcus 2008 Annual Report Download - page 34

Table of Contents
Set forth in the following table is certain summary information with respect to our operations for the periods indicated.
Fiscal year ended
(in millions, except sales per square foot)
August 1,
2009
August 2,
2008
July 28,
2007
REVENUES
Specialty Retail stores $ 2,991.3 $ 3,853.0 $ 3,674.6
Direct Marketing 652.0 747.5 715.5
Total $ 3,643.3 $ 4,600.5 $ 4,390.1
OPERATING (LOSS) EARNINGS
Specialty Retail stores $ 112.4 $ 476.7 $ 490.6
Direct Marketing 70.6 117.7 116.0
Corporate expenses (60.0) (57.0) (56.2)
Amortization of intangible assets and
favorable lease commitments (72.7) (72.2) (72.3)
Impairment charges (1) (703.2) (31.3) (11.5)
Other income (2) — 32.5 10.2
Total $ (652.9) $ 466.4 $ 476.8
OPERATING PROFIT (LOSS) MARGIN
Specialty Retail stores 3.8% 12.4% 13.4%
Direct Marketing 10.8% 15.7% 16.2%
Total (17.9)% 10.1% 10.9%
CHANGE IN COMPARABLE REVENUES
(3)
Specialty Retail stores (23.2)% 1.3% 6.2%
Direct Marketing (12.2)% 3.8% 9.2%
Total (21.4)% 1.7% 6.7%
SALES PER SQUARE FOOT
Specialty Retail stores $ 475 $ 634(4) $ 638
STORE COUNT
Neiman Marcus and Bergdorf Goodman stores:
Open at beginning of period 41 40 38
Opened during the period 1 1 2
Open at end of period 42 41 40
Clearance centers:
Open at beginning of period 24 20 18
Opened during the period 4 4 2
Closed during the period (1)— —
Open at end of period 27 24 20
NON-GAAP FINANCIAL DATA
EBITDA (5) $ (429.4) $ 687.0 $ 685.6
Adjusted EBITDA (5) $ 273.8 $ 685.8 $ 686.9
(1) For fiscal year 2009, impairment charges consist of pretax charges of 1) $329.7 million for the writedown to fair value of
goodwill, 2) $343.2 million for the writedown to fair value of the net carrying value of tradenames and 3) $30.3 million for the
writedown to fair value of the net carrying value of certain long-lived assets.
For fiscal years 2008 and 2007, impairment charges consist of a $31.3 million and $11.5 million pretax impairment charge
related to the writedown to fair value of the Horchow tradename.
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