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

Nordstrom Same-store sales drop for first quarter

16
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.


Interviews View All

Office bearers, Textile industry

Office bearers
Textile industry

There might be negative impact on garment exports

Anavila Misra, Anavila Collection

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Dharmendra Shah, Ozone PB Spintex Limited

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Carmen Silla,

Carmen Silla

Leading the transformation of the textiles industry with disruptive...

Aaron Spivak,

Aaron Spivak

Canada-based Hush Blankets was founded by Lior Ohayon and Aaron Spivak to...

Umang Banthia,

Umang Banthia

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

Mr Hartmann Huth, Trevira GmbH

Mr Hartmann Huth
Trevira GmbH

Trevira GmbH is an innovative European manufacturer of high-value branded...

S Ziya Gumuser, Teknomelt

S Ziya Gumuser
Teknomelt

Turkish nonwoven manufacturer Teknomelt has been around for only seven...

Kazuaki Yazawa, Purdue University

Kazuaki Yazawa
Purdue University

Scientist <b>Kazuaki Yazawa</b> has developed thermoelectric semiconductor ...

Sidharth Sinha, Sidharth Sinha

Sidharth Sinha
Sidharth Sinha

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

Anisha Chaudhari, Threads & Shirts

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

Amiben Shroff, Shrujan

Amiben Shroff
Shrujan

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

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


November 2019

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

Follow us on instagram

Follow

Follow Fibre2Fashion On


Advanced Search