(Filed Under Financial and General Interest News). Due to costs tied to debt, the Neiman Marcus Group, Inc. reported a $61.4 million net loss for the fourth quarter of fiscal 2011 ended July 30, compared with a loss of $32.8 in the fourth quarter of 2010.
The privately held retailer refinanced part of its debt earlier in the year, but still posted a debt extinguishment amount of $42.7 million, which was added to the company’s fourth quarter loss of $18.7 million.
Revenue reached $919.7 million, up from $826.3 million in the year-ago period, while stores open at least a year reported an 11 percent increase in revenue. The company earned $31.6 million in fiscal 2011, compared with a loss of $1.8 million in the previous year.
The Neiman Marcus Group, Inc. operates 41 Neiman Marcus stores and 30 Last Call clearance centers across the United States as well as two Bergdorf Goodman stores in Manhattan.
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