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Nordstrom posts Q2 earning, declares quarterly dividend
17 Aug '05
3 min read
Full Year Results
Year-to-date net earnings increased 44 percent to $253.5 million for the period ended July 30, 2005, compared to net earnings of $175.6 million for the same period last year. Earnings per share for the same periods were $0.91 and $0.62, respectively.
Year-to-date total sales increased 7.8 percent to $3.8 billion compared to prior year sales of $3.5 billion. Same-store sales increased 6.2 percent.
Expansion Update
No new stores were opened during the second quarter. Throughout the remainder of the year, the company plans to open three full-line stores. Stores will open in San Antonio, Texas at The Shops at La Cantera on September 16th and in Irvine, Calif. at The Irvine Spectrum on September 30th. The final opening of the year will be on November 11th in Dallas, Texas at NorthPark Center. Gross square footage for the year is expected to increase approximately 3.4 percent, from 19,397,000 to 20,048,000.
Quarterly Dividend
The company's Board of Directors has approved a quarterly dividend of $0.085 per share, payable on September 15, 2005, to shareholders of record on August 31, 2005.
Share Repurchase
Nordstrom repurchased approximately 917,000 shares of common stock during the second quarter for a total of $26 million. This did not materially impact earnings per share for the quarter, as the impact on weighted average shares outstanding was insignificant.
2005 Outlook
For the fiscal year ending January 28, 2006, the company is raising its prior earnings per share outlook of $1.70-$1.75 to $1.80-$1.90. This represents a 30 to 38 percent increase over the prior year. For the third quarter, the company expects three to five percent same-store sales growth and earnings per share in the range of $0.30-$0.35.
Nation's leading Fashion Company Nordstrom Inc is a specialty retailers, with 152 US stores located in 27 states. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 95 full-line stores, 49 Nordstrom Racks, five Faconnable boutiques, one free-standing shoe store, and two clearance stores. Nordstrom also operates 32 international Faconnable boutiques in Europe.
Year-to-date net earnings increased 44 percent to $253.5 million for the period ended July 30, 2005, compared to net earnings of $175.6 million for the same period last year. Earnings per share for the same periods were $0.91 and $0.62, respectively.
Year-to-date total sales increased 7.8 percent to $3.8 billion compared to prior year sales of $3.5 billion. Same-store sales increased 6.2 percent.
Expansion Update
No new stores were opened during the second quarter. Throughout the remainder of the year, the company plans to open three full-line stores. Stores will open in San Antonio, Texas at The Shops at La Cantera on September 16th and in Irvine, Calif. at The Irvine Spectrum on September 30th. The final opening of the year will be on November 11th in Dallas, Texas at NorthPark Center. Gross square footage for the year is expected to increase approximately 3.4 percent, from 19,397,000 to 20,048,000.
Quarterly Dividend
The company's Board of Directors has approved a quarterly dividend of $0.085 per share, payable on September 15, 2005, to shareholders of record on August 31, 2005.
Share Repurchase
Nordstrom repurchased approximately 917,000 shares of common stock during the second quarter for a total of $26 million. This did not materially impact earnings per share for the quarter, as the impact on weighted average shares outstanding was insignificant.
2005 Outlook
For the fiscal year ending January 28, 2006, the company is raising its prior earnings per share outlook of $1.70-$1.75 to $1.80-$1.90. This represents a 30 to 38 percent increase over the prior year. For the third quarter, the company expects three to five percent same-store sales growth and earnings per share in the range of $0.30-$0.35.
Nation's leading Fashion Company Nordstrom Inc is a specialty retailers, with 152 US stores located in 27 states. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 95 full-line stores, 49 Nordstrom Racks, five Faconnable boutiques, one free-standing shoe store, and two clearance stores. Nordstrom also operates 32 international Faconnable boutiques in Europe.
Nordstrom Inc
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