Home / Knowledge / News / Fashion / Nordstrom Same-store sales drop for first quarter

Nordstrom Same-store sales drop for first quarter

May '08
Nordstrom Inc reported net earnings of $119 million, or $0.54 per diluted share, for the first quarter ended May 3, 2008. For the same quarter last year, Nordstrom reported net earnings of $157 million and earnings per diluted share of $0.60.

Total sales in the first quarter were $1.88 billion, a decrease of 3.8 percent compared to sales of $1.95 billion during the same period in fiscal 2007. First quarter same-store sales decreased 6.5 percent.

First Quarter Highlights:
The company's focus on expense management and continued inventory control enabled it to achieve the high end of its earnings per share plan, despite the challenging retail environment. Earnings per diluted share decreased 10 percent compared to the same quarter last year.

• Same-store sales decreased 6.5 percent for the quarter, below the company's planned 3 to 5 percent same-store sales decline. Merchandise categories with performance above the same-store average for the quarter were cosmetics, designer products across all categories, and women's activewear and intimate apparel.
• Gross profit, as a percent of sales, decreased 57 basis points compared to last year's first quarter. Merchandise margins declined over prior year as the company utilized markdowns to align inventory with sales trends. Quarter-end inventory per square foot was down 7 percent from the prior year. Three percent of the decline was due to the sale of the company's Faconnable business in the third quarter of 2007. The decline in merchandise margin rate was partially offset by lower buying and occupancy costs.

Must ReadView All


Textiles | On 22nd Oct 2020

Trade rebounds marginally in Q3, stays negative: UNCTAD

The United Nations Conference on Trade and Trade and Development...

Pic: Shutterstock

Apparel/Garments | On 22nd Oct 2020

APAC garment units suffer as COVID hits supply chain: ILO

The COVID-19 crisis has badly hit the garment sector in the...

Pic: Shutterstock

Textiles | On 22nd Oct 2020

RCEP pact likely to be signed at 4th RCEP Summit in Nov

The Regional Comprehensive Economic Partnership (RCEP) is likely to...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Indian apparel industry looks poised for slow death

Top executives, Textile industry

Top executives
Textile industry

The new deal is better than NAFTA for the US textile industry

Vidhyaa Shankar. S, A Ganapathi Chettiar

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Alexander Foll,

Alexander Foll

Germany-based H Stoll AG & Co KG manufactures flat knitting machines....

Umang Banthia,

Umang Banthia

Established in 2005, SL Banthia Textiles manufactures coated fabrics....

Nick Isles,

Nick Isles

The Condé Nast College of Fashion & Design or CNC as it is known as,...

Robin Grankvist, OrganoClick AB

Robin Grankvist
OrganoClick AB

Robin Grankvist talks about PFCs, additives and various chemicals used in...

Michael Jaenecke, Messe Frankfurt

Michael Jaenecke
Messe Frankfurt

From May 14 to 17, international exhibitors will present the entire...

Pierre Wiertz, EDANA

Pierre Wiertz

Pierre Wiertz talks about the vast world of sustainable nonwovens and...

Sailesh Singhania, Sailesh Singhania Label

Sailesh Singhania
Sailesh Singhania Label

The Sailesh Singhania label was created to promote handwoven sarees and...

Madhu Jain, Madhu Jain

Madhu Jain
Madhu Jain

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

Chandani Sahi, By Chandani

Chandani Sahi
By Chandani

By Chandani is a womenswear prêt couture brand with fusion silhouettes by...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

October 2020

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

Advanced Search