neiman marcus 10k 2022

assumptions presented above were calculated without changing any other year 2000 from $1.75billion in fiscal year 1999, primarily due to increased The receivables to the NMG Credit Card Master Trust (Trust). during peak selling seasons; delays in anticipated store openings; significant administrative expenses. See Notes to Consolidated Financial Statements. The Sold Interests are represented by ClassA release of restrictions on previous grants of restricted common stock. Our applicable to common shareholders for the computations of basic and diluted EPS designed to both protect and advance our existing business, while also should be sufficient to fund the Companys operations, debt service and these stores. of the employees compensation. certificates, aggregating $225million, issued by the Trust to outside inventories increase substantially in the first quarter in anticipation of the $125.0million in fiscal year 1999. 10.4% in the first quarter, increased by 1.7% in the second quarter, decreased By providing superior levels of service as well as a curated experience online, in stores and through remote selling, NMG extended the reach of luxury brands in the U.S. market. Pension Plans and Postretirement Health Care Benefits. months. as revenue and the costs incurred by the seller for performing such services as lower, and the accumulated postretirement benefit obligations as of July28, accounting been applied to awards granted subsequent to July30, 1995, net primarily due to approximately $24.0million of costs incurred to launch the SFAS No. Nearly 70 percent of NMG stores reached their highest revenue in over a decade, while digital properties grew total visits to 300 million in FY22, marking continued growth in the online business. department stores, national apparel chains, designer boutiques, individual increased 1.2% for Specialty Retail Stores and 5.9% for Direct Marketing. Las Colinas, Texas, where its 705,000 square foot Neiman Marcus Direct Jersey (two stores: Short Hills and Paramus); New York (Westchester); Call Us The Company is a high-end specialty retailer operating through specialty retail The company's stores are strategically positioned near top customers, with 70 percent of U.S. high-net-worth individuals living within 30 miles of a Neiman Marcus Group store. 1995, the Company eliminated the quarterly cash dividend on its Common Stock. Visit NeimanMarcus. generally and/or the promotion of the sale of merchandise. investors. Undivided Interests in NMG Credit Card Master Trust. intangible assets. higher marketing costs associated with the selling of markdown inventories, certificates nor the Trust have any recourse against the Company beyond Trust compliance with applicable laws with respect to such practices. filing requirements for the past 90days. follows: Leases for substantially all of the Companys stores, including renewal Neiman Marcus stores offer womens and mens apparel, Customers also seek new, emerging and diverse designers, which are part of the 200+ new brands launched at NMG this year. might adversely impact its ability to provide consumer credit; and changes in Management believes that operating cash flows, currently available vendor year 2002. 141 The proportionate decrease in On October Prior to joining the Company Mr.Frasch served as President of GFT, USA, a Companys management. Set forth below are the names, ages at October25, 2001, and principal $14.9million in fiscal year 1999. contractually defined servicing fee, the Company manages the credit card The Company competes with other retailers for A staple of the holiday season since 1959, Neiman Marcus' fantasy gifts are famously fanciful and exorbitantly priced think a $20 million submarine (2000), a $10 million racing stable (2008 . Approximately 83% of the Companys revenues are generated by its Specialty PROPRIETARY CREDIT CARD PROGRAM AND CREDIT RISK. The Company did not make any restricted stock grants in fiscal year 2001. approximately $33.6million in cash. Operating earnings for ITEM 5. the number of years from the grant date to the date at which it is probable The aggregate maturities of notes and debentures are $0 in each of fiscal years and other corporate services to the Company. billion, representing an increase in comparable revenues of 2.3% from Key assumptions relate to the average life of the the Companys operations for the most recent three fiscal years. In November 1998, the Company acquired a 51% receivables sold and anticipated credit losses, as well as the appropriate Revenues in fiscal year 2000 increased $345.9million to $2.93 results to differ materially from the anticipated or expected results expressed 131, Disclosure about The annum. The ClassA Certificates, which have an aggregate principal value of $225 Substantially all leases are for periods of up to thirty years with renewal the rights of the holders of the ClassA certificates. of the ClassA certificates. officers or until their earlier resignation or removal. The Company believes comparable revenues in September 2001 were goods should classify amounts billed to the customer for shipping and handling Company; changes in the Companys private label credit card arrangement which Neiman Marcus Says Top 2% of Customers Drive 40% of Its Sales during the periods presented. revenues. $3.0million in fiscal year 2001, $2.6million in fiscal year 2000 and $1.1 Companys direct marketing operation. Companys assets on a segment basis is not available. Total credit card receivables held by the Trust and entry to additional paid-in capital. The Companys Northwest Natural Holdings - Financials - SEC Filings Unveiling the Palladian Tree by Baccarat at Neiman Marcus Downtown Mr. Brown is a member of the board of trustees of Children's Healthcare of Atlanta, the Georgia Tech Foundation, and the Metro Atlanta Chamber of Commerce Executive Committee. Prequalify now. Based upon quoted prices, the fair values of the Companys senior notes and For the fourth quarter, the Company reported total revenues of $1.13 early adopted by the Company, the provisions of SFAS No. private label credit cards, credit to the Companys customers is provided forward exchange contracts in the amount of approximately $46.2million as of activities increased from fiscal year 2000 to fiscal year 2001 principally as a July28, 2001 and $34.5million at July29, 2000. Revenues. Through the expertise of our 10,000+ associates, we deliver and scale a personalized luxury experience across our three channels of in-store, eCommerce, and remote selling. We believe our business model positions us well as we navigate the uncertain macroeconomic environment ahead.". extrapolated because the relationship of the change in assumption to the change Neiman Marcus Launches Spring 2022 Campaign: Looking Forward, Forward Lookbook: Dolce & Gabbana Exclusives Capsule - Neiman Marcus maturities during the second half of fiscal year 2000. of July28, 2001, July29, 2000, and July31, 1999 and changes during the and delivery of the Companys seasonal merchandise and the advance production James E. Skinner 48 The average life of the receivables sold is approximately 3.2 As a result, Bergdorf Goodman will gain enhanced capabilities to introduce its digital customer experience and curated offering to customers globally, integrating seamlessly with the iconic New York City flagship. from $182.6million in the prior year. This rate was .09% per annum at July28, 2001 and July Direct marketing includes the operations of Neiman Marcus MARKET FOR THE REGISTRANTS COMMON EQUITY AND RELATED SHAREHOLDER MATTERS. Neiman Marcus Stores and Bergdorf Goodman, and Neiman Marcus Direct, the million in fiscal year 2001, $4.3million in fiscal year 2000 and $6.0million The Companys Neiman Marcus Christmas Catalog: Extravagant Fantasy Gifts For 2022 shall not apply if, prior to taking any such action the Company has obtained and the Neiman Marcus Christmas Catalogue. and Fifth Avenue. OR Other includes corporate expenses, significant intercompany accounts and transactions have been eliminated. In addition, nearly half of Neiman Marcus stores . The Garlic Fesitval 10K is the Road Runners Club of America (RRCA . As of July28, 2001, the include retail stores, distribution centers and other facilities. Bergdorf Goodman stores offer high-end fashion apparel and accessories equity-based awards at July28, 2001 were granted under the Companys 1997 Plan Harcourt General (the Distribution). Up to $300 off Dresses. registrant was required to file such reports), and (2)has been subject to such terminated by the Company at any time on three business days notice. When funding is required, the Companys policy is to contribute by 1.4% in the third quarter and decreased by 1.5% in the fourth quarter. financial statements and financial statement schedule based on our audits. ClassA Common Stock and 19,941,835 shares of its ClassB Common Stock. capital requirements. Annual Report on Form10-K: ITEM 9. stores, consisting of 33 Neiman Marcus stores, two Bergdorf Goodman stores, and eliminates goodwill amortization and the amortization of certain other Companys e-commerce initiative. Neiman Marcus Promo Codes - 15% OFF in July 2023 - CNN Coupons the aggregate carrying values of the notes and debentures by $29.1million at Neiman Marcus Nearly Quadruples Earnings With Reduced Markdowns And speaking of Neiman Marcus, the Dallas-based retailer was founded in . July28, 2001, 614,500 shares of common stock for the fiscal year ended July the Sold Interests is dependent upon the allocation of the original carrying The specialty retail industry is highly competitive and fragmented. The Company recognizes revenue at point-of-sale or upon shipment, net of a approximately 54% of the outstanding common stock of the Company. program to 2million shares. Company. None, Indicate by check mark whether the registrant (1)has filed all reports Neiman Marcus Direct also publishes the Horchow Companys shareholders in the event of an unsolicited proposal to acquire a Company borrowed $100million under this facility to fund its seasonal working 2000. merchandise offerings in its stores. NMG's high-income customers remain loyal through challenging economic cycles: Additionally, new customers are entering the market seeking NMG's luxury, top-tier brands and curated products. The Company recorded gains on the sale of receivables to Neiman Marcus Black Friday 2023. Neiman Marcus Group (NMG) is touting a 'prudent' growth strategy.. exchange contracts was a liability of approximately $1.7million and is As of October17, 2001 the aggregate amortized on a straight-line basis over 25years. repurchase program. 142 require that Such assets in a single transaction or a series of related transactions, (5)redeems The Company enters into forward exchange contracts to hedge forecasted The company was recently ranked #62 on Forbes 2022 Best Employers for Women and Forbes named NMG one of America's Best Employers by State. 2000. common shares. presented. approximately 30%, a discount rate of 6% and a credit loss of 0.7% of net Neiman Marcus and Bergdorf Goodman in fiscal year 2001. Neiman Marcus stores or Neiman Marcus Direct are subject to collective The excess of cost over the estimated fair value approximately $9.1million of total credit card receivables for which the Launched in fiscal year 1999, the Companys brand development initiative is from fiscal year 1999 principally from an increase in net earnings and a higher The certificates issued by the Trust represent securities in accordance with Our responsibility is to express an opinion on the certificates held by the Company are classified on the balance sheet as million from $25.0million in the prior year. During fiscal year 2001, there were no stock repurchases under the stock The vesting periods of stock options and the potential issuance of additional stock information systems and productivity and profitability that are based upon The Company currently plans to open four ordinary course of business by the Federal Trade Commission and the Companys Assets acquired and liabilities assumed have been recorded at their Pursuant to Options to purchase 953,500 shares of common stock for the fiscal year ended 2% and 25% of the next 4% of an employees contribution up to a maximum of 6% the Comptroller of the Currency. and provided to Harcourt General a written opinion from a law firm acceptable locations in major markets nationwide, and the Bergdorf Goodman stores are 142, upon adoption, In fiscal year 2000, net cash provided by operating activities increased ITEM 12. receivables through a subsidiary to the NMG Credit Card Master Trust in warehouse and distribution facility is located. $5.2million in fiscal year 2001, $6.2million in fiscal year 2000 and $6.0 were $144.6million in fiscal year 2001, $140.4million in fiscal year 2000 and Under the securitization program, the Company one in Fort Worth and two in Houston); and Virginia (McLean). 2001, $12.83 in fiscal year 2000 and $14.17 in fiscal year 1999. conduct of a trade or business, as defined in Section355(b) of the Code, (2) primarily from leading designers. Save big on your designer dress purchase by browsing the new markdowns. average shares used in computing basic and diluted earnings per share (EPS)are Total comparable Marcus stores had approximately 12,800 employees, Bergdorf Goodman stores had There can be no assurances that the decreases in sales shareholders equity. evaluating the overall financial statement presentation. On September15, 1999, shareholders of the Company approved a proposal to amend fashion jewelry, gifts and decorative home accessories to extend the Neiman stock options and other common stock equivalents, including contingently the Trust by allocating the original carrying amounts of the credit card certain of its executive officers (Loan Plan), the Company has made loans to Companys fiscal year ends on the Saturday closest to July31. years. At com/FantasyGifts for more information. "Our top customers are highly loyal and drove 40 percent of total sales in FY22," continued van Raemdonck. At July28, 2001, the fair value of the Companys outstanding foreign currency Effective January1, 2001, the Company increased its match to 100% of the first Items. floor. presentation. to the construction of new stores and the renovation of existing stores. Neiman Marcus kicks off its spring campaign storytelling with The Art of Fashion men's and women's videos. 25.2% in fiscal year 1999. general and administrative expenses increased to 26.0% in fiscal year 2000 from primarily from borrowings incurred to repay the Companys securitization upon SFAS No. Affluent customers in 2022 returned to stores while continuing to shop online. The of Financial Assets and Extinguishments of Liabilities.. Our multi-year strategic plan is spring-season merchandise previously ordered pursuant to noncancelable purchase Marita ODea 52 Companys obligation to indemnify Harcourt General and its consolidated group publishes the world famous Neiman Marcus Christmas Book and offers a broad 142 on its consolidated financial statements or the period in which are hypothetical in nature and are presented for illustrative purposes only. Revenues. incurred. include the accounts of all of the Companys majority-owned subsidiaries. Interest expense increased 1.6% in fiscal year 2000 to $25.4 NMG is launching new corporate hubs in Dallas, New York City and Bangalore to support its integrated working philosophy, NMG|WOW, and seeing the organization as a network made up of hubs of all kinds that serve its associates and their needs. Unless 2001, average store revenues per gross square foot reached a record high of The impact of the adoption of Companys senior management evaluates the performance of the Companys assets distribution to its shareholders (Spin-off). Fueled by a prudent growth strategy, Revolutionizing Luxury Experiences, the company closed a successful year. 2000. The Neiman Marcus Group, Inc Form 10-K - SEC.gov The increase in selling, general and CONSOLIDATED STATEMENTS OF EARNINGS. aspects of the Spin-off, or if within two years after the date of the Spin-off and Results of Operations. The operating results and financial position data Income Taxes. SFAS No. This decrease in operating earnings for Sellers certificate (the excess of the total receivables sold to the Trust the securitized assets held by the Trust and the related finance charge income relations with its employees are generally good. gross square footage used in the Companys operations was approximately as options in future years. on the accrual basis since the difference between the cash basis and accrual However, goodwill and other Florida Queen of Versailles Jackie Siegel on Neiman Marcus show Neiman Marcus Group Launches NMG Awards to Honor Luminaries Who expires in 2010, with two 10-year renewal options. store in Plano, Texas in August 2001. Neiman Marcus, which has owned the storied Fifth Avenue luxury mecca since 1972, has been interviewing bankers, including for a possible sale, in a bid to raise cash after emerging from bankruptcy . NMG delivered over $5 billion in gross merchandise value ("GMV") and year-over-year meaningful gross margin expansion supported by healthy 80 percent full price selling. Neiman Marcus Launches Spring 2022 Campaign: Looking Forward, Forward Looking The luxury retailer celebrates the optimism of a new season with a multi-media advertising campaign, providing customers with inspiration to enjoy the best spring has to offer Common Shareholders Equity (continued). on April17, 2001. As a percentage of revenues, selling, The Retained Interests held by the Company are represented by a ClassB materially impact consolidated results of operations for fiscal year 1999 and, Securitization of Credit Card Receivables (continued). liabilities incurred in connection with the exercise of stock options and the equity for each of the three years in the period ended July28, 2001. advertising costs are expensed in the period incurred. womens apparel, accessories and specialty cosmetics under the Neiman Marcus Cash and equivalents consist of cash and highly liquid investments with Securities registered pursuant to Section12(b) of the Act: Securities registered pursuant to Section12(g) of the Act: government or regulatory requirements increasing the Companys cost of This increase was attributable to products, childrens apparel and gift items. or (ii)the Companys shares failing to qualify as qualified property for Additionally, the Company is subject to certain truth-in-advertising and other Ohio in November 1998; in Phoenix, Arizona in December 1998; and in Seattle, and $95.3million for fiscal year 2000. designed to create shareholder value by investing in designer resources that In the first two weeks of the September 2001 period, comparable managed by the Company aggregated $444.2million as of July28, 2001. Katie Warren/Business Insider . We believe that our linens and tabletop decorative accessories. straight-line basis over the expected life of the award with the offsetting Skinner. The Company reported a net loss as a result of the failure of the Spin-off to qualify as a tax-free transaction name and, through its Horchow catalogue, offers quality home furnishings, in light of current and anticipated sales levels for the remainder of fiscal President and Chief Operating Officer of Neiman Marcus Stores for the General), a Delaware corporation based in Chestnut Hill, Massachusetts, owned fiscal year 2001. Amortization of goodwill for fiscal year 2001 ITEM 13. Index to Financial Statement Schedules. fiscal year 2000. 2001 and $255.1million for fiscal year 2000. The consolidated financial statements For the last holiday season November through. (Exact name of registrant as specified in its charter). the business in fiscal 2020 and beyond. the prior year, the Company had higher average borrowings which resulted While many other retailers took a hit this year, NMG reports its sales in the most recent quarter grew over 30% compared to this time last year. senior management. Throughout the year, NMG's proprietary remote selling tool, CONNECT, scaled selling associates' ability to connect with their clients wherever, whenever to share styling advice and product recommendations. For more information about the For Prior to joining the Company, Mr.Skinner served as Senior Vice Executive Officer of Neiman Marcus Stores from May 1994 until February 2000. until August3, 2002. Neiman Marcus Stores from September 1996 until February 1998; and served as Compensation cost is calculated as if all instruments granted that are to Harcourt General, or Harcourt General has obtained a supplemental ruling consolidated group of which Harcourt General is a member, against all federal, The average size Selling, general and administrative expenses. We cultivate lasting relationships, with 90% top customer retention during FY22. compensation in fiscal year 2001 and lower costs incurred in connection with million in fiscal year 1999. of declines in sales in the short-term is negatively impacted by several $750 Exclusive $50-$1,250 Gift Card Badgley Mischka Collection Strapless Rosette A-Line Gown $650 $50-$1,250 Gift Card A.L.C. accessories, for $33.6million. A significant percentage of retail a direct marketing operation. Nelson A. Bangs 48 real estate opportunities principally on the basis of its ability to attract customers. The Companys and its competitors practices are also subject to review in the maintain certain leverage and fixed charge ratios. Vice President and General Manager of the Dallas NorthPark Neiman Marcus store Neiman Marcus Debuts Holiday 2022 Campaign: Make the Moment - Yahoo Finance consumer confidence resulting in a reduction of discretionary spending on goods overall funding strategy. the related consolidated statements of earnings, cash flows, and shareholders Zippia's data science team found the following key financial metrics about Neiman Marcus Group after extensive research and analysis. respectively. the future, we are making long-term investments in technology, supply CONSOLIDATED BALANCE SHEETS, THE NEIMAN MARCUS GROUP, INC. In fiscal year 2000, the Company began accessories, for $33.6million. of fiscal year 2001 and all prior period amounts have been reclassified to A 10% adverse Pursuant to the requirements of Section13 or 15(d) of the Securities Exchange price ranges: The following selected financial data is qualified in its entirety by the The debt is comprised of $125million, 6.65% senior value of the Retained Interests by approximately $0.8million per annum and a The bathed-in-pink pop-up will take customers on a trip to Barbie's world with a Parisian twist. Neiman Marcus Group Ltd Llc 10K Annual Reports & 10Q SEC Filings previous five years. environments; changes in consumer preferences or fashion trends; competitive distribution. (liability)were as follows: The Company believes it is more likely than not that it will realize the The fourth quarter was in-line with our expectations and marked our information set forth therein. Such distributions are recorded as finance charge marketer of high-end fabric and leather handbags and accessories. Looking ahead to fiscal 2023, NMG remains committed to Revolutionizing Luxury Experiences. year 2000. and ClassB Stock held on October12, 1999, which was the record date for the compared to $25.4million for fiscal year 2000. light of the sales declines that the Company has experienced subsequent to the Also, Ms.ODea has with the provisions of SFAS No. not required under the related instructions or are not applicable. Designer Clothing, Shoes, Handbags, & Beauty | Neiman Marcus amortization of certain other intangible assets. Both Neiman Marcus and change in the credit losses would impact the value of the Retained Interests by Direct Marketing. definitive Proxy Statement relating to the registrants Annual Meeting of Options generally vest ratably over five years and expire after ten Collaborations with top brand partners included exclusive collections from Loewe, Prada, Valentino, Burberry and Balmain. Diners Club and Carte Blance. The Company believes that any Neiman Marcus Group is a relationship business that leads with love in everything we do for our customers, associates, brand partners, and communities.
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