Neiman Marcus Group Ltd. LLC pared its losses in the fourth quarter and boosted its revenues by nearly 5 percent, the company reported Tuesday.
Neiman Marcus said its revenues in the fourth quarter, ending Aug. 1, 2015, totaled $1.17 billion, a rise of approximately 4.9 percent over the comparable quarter’s revenues of $1.11 billion. Comparable sales also grew, by 1.9 percent, the company said.
The Dallas-based firm, which recently made its second attempt to go public, said its Q4 net losses were $32.9 million, an improvement year-over-year from a net loss of $42.1 million in the comparable quarter.
For the fiscal year 2015, the company posted total revenues of $5.1 billion, an increase of 5.3 percent compared with total revenues of $4.84 billion in 2014. During the same period, comparable revenues increased 3.9 percent. Net earnings for the year totaled $14.9 million, compared with a net loss of $147.2 million in 2014.
After a decade of private ownership — the company was most recently purchased, in 2013, by Ares Management LLC and Canada Pension Plan Investment Board (CPPIB) for $6 billion — Neiman Marcus filed a registration for an initial public offering with the Securities & Exchange Commission in August.
In 2013, Neiman Marcus’ owners at the time, TPG and Warburg Pincus, contemplated a similar path, filing their own registration for an IPO, but ultimately found a suitor in Ares Management and CPPIB.
The company has been estimated to be about $4 billion in debt.