Neiman Marcus 2013 Annual Report Download - page 146
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Table of Contents
Revenues
$ 1,129.1
$ 1,432.8
$ 1,164.7
$ 1,112.7
$ 4,839.3
Gross profit (1)
$ 443.7
$ 379.8
$ 415.7
$ 351.5
$ 1,590.7
Net loss (2) (3)
$ (13.1)
$ (84.0)
$ (8.0)
$ (42.1)
$ (147.2)
Revenues
$ 1,068.5
$ 1,362.4
$ 1,098.3
$ 1,119.0
$ 4,648.2
Gross profit (1)
$ 423.1
$ 440.7
$ 435.0
$ 354.1
$ 1,652.9
Net earnings (4)
$ 49.6
$ 40.4
$ 70.8
$ 2.9
$ 163.7
(1) Gross profit includes revenues less cost of goods sold including buying and occupancy costs (excluding depreciation).
(2) For fiscal year 2014, net loss includes $162.7 million of transaction costs incurred in connection with the Acquisition and a $7.9 million pretax
charge related to a loss on debt extinguishment recorded in the third quarter.
(3) Depreciation and amortization expense for the second, third and fourth quarters of fiscal year 2014 are based on the fair values of the acquired assets
determined in connection with the finalization of the purchase price allocation in the fourth quarter. As a result, depreciation and amortization
expense for the second and third quarters, as well as the net loss of such periods, differ from previously disclosed amounts as follows:
Net loss, as reported
$ (68.0)
$ (2.7)
Depreciation and amortization expense, net of tax
(16.0)
(5.3)
Net loss, as adjusted
$ (84.0)
$ (8.0)
(4) For fiscal year 2013, net earnings include a $15.6 million pretax charge related to a loss on debt extinguishment recorded in the second quarter.
On September 12, 2014, we entered into an agreement to acquire the MyTheresa.com global online luxury website and the Theresa flagship
specialty store in Munich, Germany. The purchase price is approximately €150 million, subject to certain adjustments and an "earn-out" of up to €27.5
million per year for operating performance for each of calendar years 2015 and 2016. The transaction is expected to close later this calendar year, subject to
regulatory approvals and other customary closing conditions. We plan to finance the acquisition through a combination of cash and debt.
F-50