UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
ý QUARTERLY REPORT PURSUANT TO SECTION 13
OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
OR
o TRANSITION REPORT PURSUANT TO SECTION 13
OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Commission file no. 1-9659
The Neiman Marcus Group, Inc.
(Exact name of registrant as specified in its charter)
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Delaware |
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95-4119509 |
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(State or other jurisdiction of |
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(I.R.S. Employer |
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One Marcus
Square
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(Address of principal executive offices) |
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(214) 741-6911 |
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(Registrant’s telephone number, including area code) |
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Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
YES ý NO o
Indicate by check mark whether the registrant is an accelerated filer (as defined in Rule 12b-2 of the Exchange Act).
YES ý NO o
As of March 2, 2005, the number of outstanding shares of each of the issuer’s classes of common stock was:
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Class |
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Outstanding Shares |
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Class A Common Stock, $.01 Par Value |
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29,521,377 |
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Class B Common Stock, $.01 Par Value |
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19,422,379 |
THE NEIMAN MARCUS GROUP, INC.
THE NEIMAN MARCUS GROUP, INC.
CONDENSED CONSOLIDATED BALANCE
SHEETS
(UNAUDITED)
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(in thousands) |
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January 29, |
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July 31, |
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January 31, |
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ASSETS |
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Current assets: |
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Cash and cash equivalents |
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$ |
377,857 |
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$ |
368,367 |
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$ |
251,658 |
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Undivided interests in NMG Credit Card Master Trust |
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— |
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— |
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164,652 |
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Accounts receivable, net of allowance of $11,259, $10,078 and $5,091 |
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659,015 |
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551,687 |
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321,005 |
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Merchandise inventories |
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726,169 |
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720,277 |
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658,177 |
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Other current assets |
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79,679 |
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65,835 |
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75,985 |
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Total current assets |
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1,842,720 |
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1,706,166 |
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1,471,477 |
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Property and equipment, net |
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793,146 |
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763,931 |
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746,816 |
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Other assets |
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119,327 |
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145,812 |
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112,380 |
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Total assets |
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$ |
2,755,193 |
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$ |
2,615,909 |
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$ |
2,330,673 |
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LIABILITIES AND SHAREHOLDERS’ EQUITY |
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Current liabilities: |
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Accounts payable |
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$ |
241,946 |
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$ |
289,282 |
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$ |
227,121 |
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Accrued liabilities |
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327,435 |
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286,833 |
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304,103 |
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Notes payable and current maturities of long-term liabilities |
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2,200 |
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1,563 |
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845 |
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Current portion of borrowings under Credit Card Facility |
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225,000 |
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150,000 |
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— |
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Total current liabilities |
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796,581 |
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727,678 |
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532,069 |
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Long-term liabilities: |
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Notes and debentures |
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249,768 |
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249,757 |
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249,745 |
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Borrowings under Credit Card Facility |
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— |
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75,000 |
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111,326 |
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Deferred real estate credits |
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68,707 |
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70,159 |
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72,677 |
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Other long-term liabilities |
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118,862 |
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112,455 |
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90,884 |
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Total long-term liabilities |
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437,337 |
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507,371 |
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524,632 |
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Minority interest |
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11,664 |
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10,298 |
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10,729 |
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Common stocks |
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497 |
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492 |
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492 |
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Additional paid-in capital |
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510,119 |
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491,849 |
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481,598 |
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Accumulated other comprehensive loss |
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(1,996 |
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(4,536 |
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(25,326 |
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Retained earnings |
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1,026,652 |
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905,330 |
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828,525 |
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Treasury stock, at cost (768,731 shares, 710,227 shares and 699,777 shares) |
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(25,661 |
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(22,573 |
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(22,046 |
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Total shareholders’ equity |
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1,509,611 |
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1,370,562 |
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1,263,243 |
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Total liabilities and shareholders’ equity |
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$ |
2,755,193 |
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$ |
2,615,909 |
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$ |
2,330,673 |
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See Notes to Condensed Consolidated Financial Statements.
1
THE NEIMAN MARCUS GROUP, INC.
CONDENSED CONSOLIDATED STATEMENTS
OF EARNINGS
(UNAUDITED)
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(in thousands, except per share data) |
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Thirteen Weeks Ended |
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Twenty-Six Weeks Ended |
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January 29, |
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January 31, |
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January 29, |
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January 31, |
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