Nordstrom to align key drivers of its biz to enhance free cash flow

24 Feb '09

4 min read

• On April 17, the company's third Boston-area store at the Northshore Mall in Peabody, Massachusetts
• On September 25, a new store at Kenwood Towne Centre in Cincinnati, Ohio

In spring 2009, Nordstrom plans to open five new Nordstrom Rack stores:
• Park Lane in Dallas, Texas
• Bergen Town Center in Paramus, New Jersey
• The Commons at Southtowne in Sandy, Utah
• Orland Park Place in Orland Park, Illinois
• Ravenswood 101 in East Palo Alto, California

In fall 2009, Nordstrom plans to open five new Nordstrom Rack stores:
• Beverly Connection in Los Angeles, California
• Shops of Southlake in Southlake, Texas
• Millenia Crossing in Orlando, Florida
• Hastings Village in Pasadena, California
• Rookwood Pavilion in Cincinnati, Ohio

Fiscal Year 2009 Outlook:
Nordstrom is planning for 2009 based on the trends the company experienced in the second-half of 2008. The company will continue to align the key drivers of its business (inventory, expenses, working capital and capital expenditures) to mitigate operating margin pressure, enhance free cash flow and maintain a healthy balance sheet. For the 2009 fiscal year, Nordstrom expects same-store sales to decrease 10 to 15 percent, which yields earnings per share in the range of $1.10 to $1.40 for the full year.

Nordstrom Inc

More Nordstrom Inc News... More Fashion News - United States Of America...