×
81 404
Fashion Jobs
FOOT LOCKER
Replenishment Analyst
Permanent · Bradenton
FOOT LOCKER
Senior Manager, Ecommerce, Kids Foot Locker
Permanent · New York
JCPENNEY
Buyer - Men's Furnishings
Permanent · Plano
ESTÉE LAUDER
Senior Manager, Product Project Manager
Permanent · New York
ESTÉE LAUDER
Manager, Global Product Marketing, Lip, Mac
Permanent · New York
ESTÉE LAUDER
Keyholder - Cosmetic Company Store - 20 Hrs - Lighthouse Place Premium Outlets - Michigan City, in
Permanent · Michigan City
ESTÉE LAUDER
Retail Beauty Sales Manager - jo Malone London - Full-Time - Santa Monica Place - Santa Monica, ca
Permanent · Santa Monica
ABERCROMBIE AND FITCH CO.
1st Shift Security Associate
Permanent · Columbus
ABERCROMBIE AND FITCH CO.
2nd Shift Security Associate
Permanent · Columbus
ABERCROMBIE AND FITCH CO.
3rd Shift Security Associate (Full-Time)
Permanent · Columbus
NEW BALANCE
Distribution Supervisor - Afternoons
Permanent · Saint-Louis
BATH & BODY WORKS
Merchandise Planner, Canada
Permanent · Reynoldsburg
ADIDAS
Manager, Digital Site Merchandising
Permanent · Portland
ADIDAS
Retail District Manager, Florida North
Permanent · Orlando
ADIDAS
Design Director - Fear of God (Footwear-Focus)
Permanent · Los Angeles
KOHLS
Full-Time Loss Prevention Supervisor
Permanent · Glendale
KOHLS
Full-Time Loss Prevention Supervisor
Permanent · Simpsonville
KOHLS
Full-Time Sales Supervisor - Hardlines
Permanent · Lancaster
KOHLS
Full-Time Loss Prevention Supervisor
Permanent · Fairfield
L'OREAL GROUP
Analyst/sr Analyst-Revenue Growth Management
Permanent · New York
L'OREAL GROUP
Manager - Engineering Operations (Fulfillment)
Permanent · South Brunswick Township
COTY
Manager, Trade Marketing - Tiffany & co
Permanent · New York
Published
Aug 12, 2016
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Nordstrom exceeds expectations with better-than-expected Q2

Published
Aug 12, 2016

Nordstrom produced better than expected results for the second quarter of 2016. The company pushed its Anniversary Sale back by one week in comparison to 2015, which helped drive the quarter’s results in addition to efforts made to reduce inventory and address expense and capital.

The company in July expanded Madewell to 20 more stores, which began with 15 locations in March 2015 when it launched, and also announced the opening of retail locations in Dallas, TX and CityPlace in Minnesota. In June, Nordstrom closed its Horton Plaza store in San Diego and closed a Trunk Club fulfillment center in Chicago, which will be integrated with Nordstrom's network of fulfillment and distribution centers.


Nordstrom


 
Total company net sales decreased slightly to $3.6 million and total comparable sales decreased 1.2%. Net sales for Nordstrom full-line stores in the US and Canada, Nordstrom.com and Trunk Club decreased 0.4% and Nordstrom Rack stores and HauteLook net sales increased 11.2%.
 
Net earnings were $117 million and earnings before interest and taxes (EBIT) was $221 million compared to $211 million and $377 million, respectively, in the prior year. Retail EBIT decreased $59 million and Credit EBIT decreased $97 million, which reflected a $64 million benefit from a non-cash accounting adjustment.

Gross profit and SG&A expenses, both as a percentage of net sales, decreased 101 basis points and increased 212 basis points, respectively, and the company repurchased 1.3 million shares of its common stock for $60 million.
 
Nordstrom maintained its fiscal year 2016 net sales and comparable sales outlook and adjusted its Retail EBIT, Credit EBIT and earnings outlook. The company expects net sales to increase in range of 2.5% and 4.5% and comparable sales to be in range of decreasing 1% and increasing 1%. Retail EBIT is now expected to decrease 10 to 15%, Credit EBIT is expected to be approximately $80 million and the earnings per share is predicted to be in range of $2.60 and $2.75.

Copyright © 2022 FashionNetwork.com All rights reserved.