Home / Knowledge / News / Fashion / Nordstrom declares decrease in June comparable store sales
Nordstrom declares decrease in June comparable store sales
11
Jul '08
Nordstrom Inc reported preliminary sales of $731 million for the five-week period ended July 5, 2008, a decrease of 14.1 percent compared to sales of $851 million for the five-week period ended July 7, 2007.

Same-store sales decreased 18.6 percent. The company's June sales results were negatively impacted by the shift of the Half-Yearly Sale for Women and Kids into May.

The company believes that quarter-to-date results, which combine the results of May and June 2008, provide the most accurate view of recent sales trends.

Preliminary quarter-to-date sales of $1.45 billion decreased 2.8 percent compared to sales of $1.49 billion during the same period in 2007. Quarter-to-date same-store sales decreased 5.9 percent.

Preliminary year-to-date sales of $3.33 billion decreased 3.4 percent compared to sales of $3.44 billion for the same period in 2007. Year-to-date same-store sales decreased 6.2 percent.

Although second quarter-to-date sales results were consistent with the company's expectations, the competitive and economic environment remains challenging.

The company experienced higher levels of markdowns than in past years as it cleared spring merchandise during the Half-Yearly Sale for Women and Kids in May and the Half-Yearly Sale for Men in June.

Due to lower gross profit margins, the company now expects that earnings for the current quarter will be at the low end or slightly below its previously announced earnings per share outlook of 65 to 70 cents.

The company's annual Anniversary Sale starts on July 18th and has traditionally been enthusiastically received by Nordstrom customers. As a result, July has historically been the second-largest sales month of the year and will be an important part of the quarter.

The company will release July sales results on August 7th and second quarter earnings results on August 14th. In keeping with its normal practice, the company will update third quarter and full-year outlook upon releasing second quarter earnings on August 14th.

Nordstrom Inc


Must ReadView All

Courtesy: Fancycrave.com from Pexels

Apparel/Garments | On 22nd Jun 2018

EU's retaliatory duty on US apparel takes effect

As part of the three-pronged response outlined by the European...

NCC applauds House passage of farm legislation

Textiles | On 22nd Jun 2018

NCC applauds House passage of farm legislation

The National Cotton Council (NCC) of the US has welcomed the passage...

Courtesy: Roman Pohorecki from Pexels

Apparel/Garments | On 22nd Jun 2018

UK launches inquiry on sustainability of fashion industry

The Environmental Audit Committee of the UK Parliament has launched...

Interviews View All

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Carolin Russ

Weko, Weitmann & Konrad GmbH & Co KG, based in south Germany, is...

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

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

Leave your Comments


June 2018

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

news category


Related Categories:

Advanced Search