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Nordstrom Earnings Call, Third Quarter 2008
18th November 2008 00:00 AM |
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| Firm responds to declining business by suspending the share repurchase program and reducing net capital expenditures. |
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| The fashion specialty retailer reported a 51% drop in earnings to $71 million or 33 cents a share, as the firm responded to slower sales trends and the competitive environment with increased markdowns. Total sales were down 8.4% to $1.8 billion in 2007 on weaker same-store sales. |
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Nordstrom Earnings Call, Third Quarter 2008
17th November 2008 00:00 AM |
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| The combination of lower sales and higher mark-down rates resulted in the third quarter gross profit rate decreasing 332 basis points to 34.3%. |
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| The specialty fashion retailer reported year-to-date net sales of $6.0 billion compared with net sales of $6.3 billion for the equivalent period in fiscal 2007. The nine months period net earnings of $333 million or $1.52 per share compared negatively to net earnings of $503 million or $1.98 per share for the same period last year. The third quarter same store sales decreased 11.1% and the management anticipates full year 2008 EPS in the range of $1.87 to $1.97. |
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Nordstrom Earnings Call, Second Quarter 2008
19th August 2008 00:00 AM |
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| The company expects full year 2008 gross profit margin to be 110 basis points to 140 basis points lower than 2007, a dip from the previous guidance. |
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| The leading fashion specialty retailer generated second quarter total sales of $2.29 billion compared with $2.39 billion during the same period in fiscal 2007. The second quarter same-store sales decreased by 6%. The management reported quarterly net earnings of $143 million versus net earnings of $180 million in the year ago quarter. The company expects full year EPS to be in the range of $2.55 to $2.65, a decrease from the previously announced range of $2.65 to $2.80. |
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Nordstrom Fourth Quarter Earnings Call
27th February 2008 00:00 AM |
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| The earnings were $212 million or 92 cents per share as against $232 million or 89 cents per share in the prior year quarter. |
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| The retailer of specialty apparel and accessories reported revenue of $2.51 billion, down 4.4% from $2.63 billion in the previous year, on 0.7% decrease in same store sales. During the quarter, SG&A improved 68 basis points compared to last year, primarily due to lower incentive costs, partially offset by increased bad debt expense related to the company''s credit card business. Nordstrom, anticipating a weak first half for fiscal 2008, expects EPS in the range of $2.75 to $2.90. |
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Nordstrom Third Quarter Earnings Call
23rd November 2007 00:00 AM |
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| Nordstrom recorded profit of $165.7 million or 68 cents a share as against $135.7 million or 52 cents in the previous year quarter. |
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| The specialty retailer of fashion apparel reported revenue of $1.97 billion, up 5% from $1.87 billion in last year. During the quarter, the gross margin profit dropped 38 basis points on higher markdowns due to realignment of inventory levels with slower sales trend. Nordstrom completed the sale of its Faconnable subsidiary and realized an after-tax gain of $20.9 million, or 9 cents per share. For fiscal 2007, the company projects EPS in the range of $2.87 to $2.91. |
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Nordstrom Second Quarter Earnings Call
20th August 2007 00:00 AM |
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| The net income rose marginally to $180.4 million or 71 cents a share compared to $178.8 million or 67 cents a share in the prior year quarter. |
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| The leading fashion specialty retailer of the US reported revenue of $2.39 billion, an increase of 5.2% from prior year. The sales in the quarter were boosted by the half-yearly sales and July anniversary sales. The revision to the accounting method of the VISA credit card business increased the expenses in the quarter substantially. For fiscal 20007, the company revised its projections upwards and now expects earnings of $2.91 to $2.97 per share, on same store sales growth of 5% to 6%. |
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Nordstrom First Quarter Earnings Call
23rd May 2007 00:00 AM |
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| The net earnings were $156.8 million or 60 cents per share compared to $131.2 million or 48 cents per share in the prior year. |
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| The leading fashion specialty retailer reported revenue of $1.95 billion, up 9.3% over the prior year quarter. The increase was to due to 9.5% growth in same store sales as well as positive timing shift. During the quarter, the company completed an $850 million securitization transaction backed by the company''s co-branded Visa and private label receivables. For the Q2 of 2007, EPS is expected in the range of 62 cents to 65 cents, including an 8 cents impact from the non-comparable items. |
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