Sponsors
Billabong ▲ +0.005 | PPR ▼ -0.60 | American Apparel ▲ +0.020 | The Buckle ▼ -0.63 | Columbia ▼ -0.95 | Deckers Outdoor ▼ -16.22 | Dicks ▼ -3.49 | Foot Locker ▼ -1.13 | Genesco ▼ -1.42 | Iconix Brand Group ▼ -1.07 | Jarden Corp ▼ -0.97 | Nordstrom ▼ -2.07 | Luxottica ▼ -0.79 | Nike ▼ -2.62 | Pacific Sunwear ▼ -0.20 | Skullcandy ▼ -0.22 | Sport Chalet - 0 | Urban Outfitters ▼ -0.53 | VF Corp ▼ -2.02 | Quiksilver ▼ -0.07 | Zumiez ▼ -1.61 | Macys ▼ -1.48 | Tillys ▼ -0.26 |
Ticker Sponsor
Readers Say
I waited too long to sign up for Executive Edition
I waited too long to sign up for Executive Edition

I read Shop-Eat-Surf at every opportunity, and I waited too long to sign up for the Executive Edition. It’s timely, relevant and clearly “from the industry, for the industry.

- By Andy Laats, President, Nixon
Since the inception of Executive Edition, I only need 1 stop
Since the inception of Executive Edition, I only need 1 stop

As a retailer in the surf industry for the past 21 years, I have had to use multiple sources to stay informed to the news within surf. Since the inception of the Executive Edition of Shop-Eat-Surf.com, I need only one stop. Thanks for providing such a valuable tool to all of us in the industry. Shop-Eat-Surf is a must read for all of our staff at Maui Nix.

- By George Karamitos, CEO, Maui Nix
Industry Insight

SIMA: Tickets on sale for 12th Image Awards show on Feb. 12.
PROCOPIO: Seminar 1/31 at Snow Show on IP strategies.

Details on Industry Insight.


Tiffany Montgomery
Print This Article

Nordstrom planning for a tough first half

By Tiffany Montgomery
February 26, 2008 6:22 AM

Here are some details from the Nordstrom earnings release and conference call yesterday.

 

The business now and the rest of 2008

 

  • The company said its biggest short term challenges are in women's apparel and sales in California.

 

  • For the first quarter, Nordstrom expects same-store sales to fall 3 percent to 5 percent.

 

  • For 2008, Nordstrom is planning for flat to negative 2 percent same-store sales.

 

  • The company sees business improving in the back half of the year.

 

  • Early trends for spring that are selling: Color, crop jackets, denim and non-denim bottoms for the first time in a while.

Fourth quarter and fiscal 2007


Q4 same-store sales: down 0.7 percent

Q4 total sales: down 4.4 percent to $2.5 billion

Q4 net income: down 8.6 percent to $212 million


2007 same-store sales: up 3.9 percent

2007 total sales: up 3.1 percent to $8.8 billion

2007 net income: up 5.5 percent to $715 million (including a $21 million gain from Facannoable sale)


Store growth plan: Nordstrom has 102 stores today, expecting 140 to 150 by 2015.


Best regions: Northwest, South, Midwest


Best categories
: Designer across all categories, accessories, women's shoes. Also performing well - premium denim and contemporary trends in the tbd department.


Credit cards: The company saw a softening in its credit card business with an increase in delinquencies and write offs. Those rates are still below the industry average. Executives expect a continued softening in the first half of the year, then improvement in the back half.

 


More on: Nordstrom, earnings, sales

Articles You Might Have Missed