Sponsors
Billabong ▼ -0.005 | PPR ▼ -1.05 | American Apparel ▲ +0.110 | The Buckle ▲ +1.76 | Columbia ▲ +1.79 | Deckers Outdoor ▲ +1.45 | Dicks ▲ +0.88 | Foot Locker ▲ +0.55 | Genesco ▲ +2.83 | Iconix Brand Group ▲ +0.21 | Jarden Corp ▲ +0.66 | Nordstrom ▲ +0.93 | Luxottica ▲ +0.25 | Nike ▲ +1.29 | Pacific Sunwear ▼ 0.00 | Skullcandy ▲ +0.17 | Sport Chalet - 0 | Urban Outfitters ▲ +0.69 | VF Corp ▲ +1.82 | Quiksilver ▲ +0.13 | Zumiez ▲ +1.56 | Macys ▲ +0.75 | Tillys ▲ +0.11 |
Ticker Sponsor
Readers Say
Always a good daily read
Always a good daily read

Shop-Eat-Surf creates a good source of timely information about the industry. The site makes all types and size companies feel part of a community where everyone is stoked to hear about other companies successes and ideas. It is always a good daily read.

- By Ted Li, VP of North America, Oakley
The one, undisputed leader
The one, undisputed leader

It is common knowledge in our industry that there is one undisputed leader in reporting on the topics, businesses and trends that impact all of us the most, and it is shop-eat-surf.com. Their access to those who make our industry happen is second to none, and we value not only the content of their reporting but the editorial thought on what it all means both in the present as well as the future. If we were asked to give a rating, it would be five out of five stars.

- By Craig Levra, CEO, Sport Chalet
Industry Insight

SURFRIDER: "Protect What You Love" holiday appeal.
MOSS ADAMS: Plan now for tax season.
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