Home / Knowledge / News / Fashion / Nordstrom net earnings down to $141 mn in Q2 2019

Nordstrom net earnings down to $141 mn in Q2 2019

Aug '19
Pic: Nordstrom
Pic: Nordstrom
The second quarter net earnings for Nordstrom, Inc, a leading fashion retailer based in the US, decreased to $141 million ending August 3, 2019, compared to $162 million during the same period in fiscal 2018. The net earnings for the first half of 2019 decreased to $177 million as compared to $249 million for the corresponding period of 2018.

In full-price, net sales decreased 6.5 per cent compared in Q2 2019, with the same period in fiscal 2018. Off-price net sales decreased 1.9 per cent. Total company digital sales grew 4 per cent and represented 30 per cent of the business. Gross profit, as a percentage of net sales, of 34.5 per cent decreased 50 basis points compared with the same period in fiscal 2018. This was primarily due to deleverage on occupancy expenses, said Nordstrom in a media statement..

"We delivered strong bottom-line results, demonstrating our inventory and expense discipline. We exited the quarter in a favourable inventory position and made important strides in productivity," said Erik Nordstrom, co-president, Nordstrom. "We're focused on driving our top-line, and while this can take time, we are confident in our ability to manage through cycles. We remain encouraged by our key initiatives, including our local market strategy, and are making good progress on key areas of focus that we believe will collectively drive increased value creation for our shareholders."

The company revised its annual outlook to reflect second quarter results and expectations for the second half of the year. While the company is evaluating the fourth tranche of tariffs on goods from China and has not incorporated the associated impact in its annual outlook, the estimated impact is expected to be relatively immaterial for the year.

Nordstrom will expand its local market strategy to New York City, its largest market for online sales, with the opening of its flagship store on October 24 and two Nordstrom Local neighbourhood hubs in September. The combination of Nordstrom's physical and digital assets is expected to add a significant sales lift in this market (PC)

Fibre2Fashion News Desk – India

Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 28th Sep 2021

California 1st US state to require hourly wages for garment workers

Taking historic and decisive action to help keep workers safe on the...

Pic: ADB

Textiles | On 28th Sep 2021

ADB approves $250-mn loan to support Bangladesh’s economic recovery

The Asian Development Bank has approved a $250-million policy-based...

Pic: Shutterstock

Textiles | On 28th Sep 2021

US 2020-21 cotton exports highest in 15 years

Spurred by record global imports, US cotton exports in 2020-21 were...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Ensured payment of fee was least concern for students

Textile Industry, Head honchos

Textile Industry
Head honchos

Luxury is not just about high prices but ability to create desire

International apparel brands, Head honchos

International apparel brands
Head honchos

Launched first collection at onset of Covid

Gus Bartholomew,

Gus Bartholomew

<b>Gus Bartholomew</b>, co-founder of SupplyCompass, explains to <b>Subir...

Susan Bhaktul,

Susan Bhaktul

Established in 2000 as a liaison with the Government of India, Industree...

Daniele Uboldi,

Daniele Uboldi

EptaInks is the screen-printing division of Eptanova, a company that...

Johann-Philipp Dilo, Dilo Group

Johann-Philipp Dilo
Dilo Group

German company Dilo Group is one of the leading equipment suppliers of...

Tiasha Renganathan, Twinery Innovations by MAS

Tiasha Renganathan
Twinery Innovations by MAS

Twinery-Innovations by MAS is the innovation arm of Sri Lankan company MAS ...

Frank Heislitz, Freudenberg

Frank Heislitz

Freudenberg Performance Materials is a leading global manufacturer of...

Suman Nathwani, Suman Nathwani

Suman Nathwani
Suman Nathwani

Designer <b>Suman Nathwani</b> talks about her journey of opening a...

Abhishek Bajaj & Samiksha Bajaj, Samshek

Abhishek Bajaj & Samiksha Bajaj

Samshek is a fashion forward tech brand which combines digital experience...

Aprajita Toor, Aprajita Toor

Aprajita Toor
Aprajita Toor

The creations by <b>Aprajita Toor</b> were born out of a deep desire to...

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

September 2021

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

Advanced Search