Comp Sales Up, Profits Slip at Neiman Marcus GroupThe Dallas-based luxury retailer is well into negotiations with lenders on restructuring its huge debt.

[Collection]Neiman Marcus Group reported a net loss of $29 million in the fiscal second quarter ended Jan. 26, compared with net earnings of $372.5 million in the second quarter of 2018, though the year-ago period included a $387 million tax benefit. Adjusted earnings before interest, taxes, depreciation and amortization were down somewhat at $134.4 million, compared to adjusted EBITDA of $154.8 million for the second quarter a year ago. Excluding the Mytheresa luxury web site owned by Neiman’s, adjusted EBITDA for the second quarter was $134.4 million, compared to  $147.5 million for the second quarter a year ago. NMG also owns Bergdorf Goodman and Horchow. Comparable sales rose 0.7 percent, while total revenues reached $1.39 billion, down from $1.49 billion in the year-ago period. “Our second-quarter results reflect our sixth consecutive quarter of comparable sales increases. The stabilization of our business continues as we work deliberately to transform Neiman Marcus Group into a luxury customer platform, fueled by technology, innovation, and supported by seasoned and talented executives who are laser-focused on this mission,” said Geoffroy van Raemdonck, chief executive officer of the Neiman Marcus Group. Late in February, NMG reached a preliminary agreement with lenders owning about half of NGM’s debt on an extension and

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