Interviews
Merchandise divisions perk up at Nordstrom Q1
19 May '06
3 min read
- We adopted SFAS No. 123(R) "Share-Based Payment," and as a result we recorded compensation expense of $2.7 million in buying and occupancy costs and $4.4 million in selling, general and administrative expenses.
Expansion Update
During the first quarter Nordstrom opened one full-line store in Palm Beach Gardens, Florida at the Gardens Mall on March 10th.
Share Repurchase
Nordstrom repurchased approximately 5.3 million shares of its common stock during the first quarter for $212.9 million. This reduction in weighted- average shares outstanding had no material impact on diluted earnings per share for the quarter.
Quarterly Dividend
The company's board of directors has approved a quarterly dividend of $0.105 per share, payable on June 15, 2006, to shareholders of record on May 31, 2006.
2006 Outlook
For the fiscal year ending February 3, 2007, the company anticipates diluted earnings per share in the range of $2.24 to $2.32, which includes an estimated expense of $0.06 per diluted share from the adoption of SFAS No. 123(R) regarding expensing of stock options. For the second quarter, the company expects low single digit same-store sales growth and earnings per share in the range of $0.59 to $0.64.
Nordstrom offers apparel, shoes, jewelry, cosmetics, fragrances and accessories for men, and women.
Expansion Update
During the first quarter Nordstrom opened one full-line store in Palm Beach Gardens, Florida at the Gardens Mall on March 10th.
Share Repurchase
Nordstrom repurchased approximately 5.3 million shares of its common stock during the first quarter for $212.9 million. This reduction in weighted- average shares outstanding had no material impact on diluted earnings per share for the quarter.
Quarterly Dividend
The company's board of directors has approved a quarterly dividend of $0.105 per share, payable on June 15, 2006, to shareholders of record on May 31, 2006.
2006 Outlook
For the fiscal year ending February 3, 2007, the company anticipates diluted earnings per share in the range of $2.24 to $2.32, which includes an estimated expense of $0.06 per diluted share from the adoption of SFAS No. 123(R) regarding expensing of stock options. For the second quarter, the company expects low single digit same-store sales growth and earnings per share in the range of $0.59 to $0.64.
Nordstrom offers apparel, shoes, jewelry, cosmetics, fragrances and accessories for men, and women.
Nordstrom Inc
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