In fiscal year 2012, the Company achieved record sales and earnings while making significant investments to improve the customer experience in store and online. For the third consecutive year, the Company achieved double-digit growth in annual net sales and earnings per diluted share and same-store sales increases in the high single-digit range.
Similar to many other retailers, Nordstrom follows the retail 4-5-4 reporting calendar, which included an extra week in the fourth quarter of fiscal 2012 (the 53rd week). In the 53rd week, the Company had net sales of approximately $162 million, representing an approximate $0.04 increase to earnings per diluted share for both the quarter and fiscal year. The 53rd week is not included in same-store sales calculations.
Full Year results
Nordstrom achieved record net sales of $11.8 billion, which represented an increase of 12.1 percent compared with prior year net sales of $10.5 billion. Full year same-store sales increased 7.3 percent, on top of last year’s same-store sales increase of 7.2 percent.
Earnings per diluted share of $3.56 increased 13.4 percent compared to $3.14 for fiscal year 2011. Net earnings of $735 million increased 7.7 percent compared with net earnings of $683 million for fiscal year 2011.
Return on invested capital (ROIC) for the 12 months ended February 2, 2013 was 13.9 percent, which increased from 13.3 percent in the prior 12-month period due primarily to the growth in earnings.
Fourth Quarter summary
Nordstrom’s fourth quarter performance was consistent with the strong trends the Company experienced throughout the year.
Total Company same-store sales increased 6.3 percent compared with the same period in fiscal 2011. Nordstrom same-store sales, which consist of the full-line and Direct businesses, increased 6.1 percent. Top-performing merchandise categories included Men’s Apparel, Cosmetics, Kids’ Apparel, and Women’s Apparel.
Full-line same-store sales increased 2.2 percent compared with the same period in fiscal 2011. The South and Midwest regions were the top-performing geographic areas relative to the fourth quarter of 2011.
Direct sales surpassed $1 billion dollars this year for the first time in its history, driven by a same-store sales increase of 31 percent in the fourth quarter on top of last year’s increase of 35 percent for the same period. Direct sales growth continues to outpace the overall Company, reflecting ongoing initiatives to improve the customer experience online.
| On 12th Jun 2021
Gross domestic product (GDP) of the Group of 20 (G20) area returned...
| On 12th Jun 2021
Japan’s imports of clothing and accessories declined by 13.2 per cent ...
Setting the right targets for issues in play in locations, i.e.,...
Great step towards realising end goal of 'AtmaNirbhar Bharat'
The pandemic has reinstated need for organised retail spaces in Tier II...
Next level is to inject new features:
Founded by Jimmy Lai, Giordano International Ltd, a Hong Kong based...
With production sites in Klagenfurt and Kufstein, Zimmer Austria is a...
Set up in January 2020 by <b>Seema Mishra</b>, the Kasrawad Art Cluster...
Fitesa is a leader in the nonwoven fabrics industry, specialising in...
The Lenzing Group is an international company headquartered in Austria...
EDANA has been the leading global association and voice of the nonwovens...
Shalini Sharma & Shweta Pundir Sharma
Six Yard Story
Six Yard Story is a premium artisanal brand with a focus to bring handloom ...
A Humming Way
A Humming Way (AHW) is inspired by the old-world regalia of Rajasthan...
Samatvam, a womenswear brand that blends age-old craftsmanship with modern ...
Letter to Editor
Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.
Subscribe today and get the latest information on Textiles, Fashion, Apparel.