×
68 866
Fashion Jobs
BANANA REPUBLIC
General Manager - West Town
Permanent · Madison
ADIDAS
Key Account Manager
Permanent · Pittsburgh
CENTRIC BRANDS
Manager, Production
Permanent · New York
BLOOMINGDALE'S
Asset Protection Visual Security Officer, Part Time - Chevy Chase
Permanent · Chevy Chase
BLOOMINGDALE'S
Asset Protection Visual Security Officer, Part Time - Willow Grove
Permanent · Willow Grove
MACY'S
Asset Protection Captain, Lakewood Center - Full Time
Permanent · Lakewood
MACY'S
Celebrations Consultant
Permanent · Salem
MACY'S
Product Management Advisor
Permanent · New York
MACY'S
Asset Protection Detective, Summerlin - Full Time
Permanent · Las Vegas
MACY'S
Business Intelligence Workflow/Agent Tools Advisor
Permanent · Deerfield Township
MACY'S
Asset Protection Detective, Woodlands Mall - Full Time
Permanent · The Woodlands
MACY'S
Asset Protection Detective, Warwick Mall - Full Time
Permanent · Warwick
MACY'S
Asset Protection Detective, Fair Oaks - Part Time
Permanent · Fairfax
MACY'S
Asset Protection Detective, Redding mt Shasta - Full Time
Permanent · Redding
MACY'S
Asset Protection Detective, Natick Collection - Full Time
Permanent · Natick
NORDSTROM
Asset Protection - Security Ambassador - Miracle Marketplace Rack
Permanent · Miami
SALLY BEAUTY CORPORATE
Manager, Content Strategy And Operations
Permanent · Denton
ROSS STORES
Senior Financial Analyst, Store Finance
Permanent · Dublin
OLD NAVY
Manager – Product Creation Strategy
Permanent · San Francisco
OLD NAVY
Assistant General Manager, Merchandising - Boynton Beach
Permanent · Boynton Beach
L BRANDS
Senior Merchandise Planner
Permanent · Reynoldsburg
L BRANDS
Manager Merchandise Planning
Permanent · Reynoldsburg
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.