Home / Knowledge / News / Apparel/Garments / Nordstrom Q4 FY'14 EPS exceeds guidance
Nordstrom Q4 FY'14 EPS exceeds guidance
21
Feb '14
Nordstrom, Inc. reported fiscal 2013 earnings per diluted share of $3.71, which exceeded the Company’s full-year outlook of $3.65 to $3.70.
 
The Company continued to make progress in executing its customer strategy through its investments to drive growth across channels, while maintaining disciplined execution around inventory and expenses.
 
Similar to many other retailers, the Company follows the retail 4-5-4 reporting calendar, which included an extra week in the fourth quarter of fiscal 2012 (the "53rd week"). The 53rd week represented net sales of approximately $162 million and earnings per diluted share of approximately $0.04 for both the fourth quarter and fiscal year 2012. The 53rd week is not included in same-store sales calculations.
 
Earnings per diluted share for the fourth quarter ended February 1, 2014, were $1.37 compared with $1.40 for the same quarter last year. Fourth quarter net earnings were $268 million compared with $284 million for the same quarter last year.
 
The Company’s fourth quarter sales performance reflected trends consistent with its experience throughout the year. Total Company same-store sales increased 2.6 percent, compared with last year’s increase of 6.3 percent. Total Company net sales of $3.6 billion were flat with the same period in fiscal 2012. Excluding the 53rd week, total company net sales increased 5.2 percent for the fourth quarter compared with the same period last year.
 
During the fourth quarter, the Company issued $665 million of 5.00% senior unsecured notes, due January 2044. The Company used $400 million of the proceeds to retire all senior unsecured notes due June 2014. 
 
The remaining debt was exchanged for $201 million of outstanding 7.00% senior notes, due January 2038, and to pay for the related premium. The net impact of these transactions is expected to reduce future borrowing costs. Earnings before taxes in the fourth quarter were reduced by non-recurring expenses of approximately $14 million, or earnings per diluted share of $0.04.
 
 
Click here to view more
 

Nordstrom

Must ReadView All

Textiles | On 30th Jul 2016

NRI’s TCG picks up majority stake in MCC’s Haldia plant

The Chatterjee Group (TCG) owned by NRI entrepreneur Purnendu...

Textiles | On 30th Jul 2016

African countries woo investors in Coimbatore

Diplomats of seven African countries have invited Coimbatore’s...

Textiles | On 30th Jul 2016

Pakistan woos Chinese textile sector

Impressed by the smooth conduct of business in China’s economic...

Interviews View All

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
June 2016

F2F Magazine

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search