Sponsors
Billabong ▼ -0.010 | PPR ▲ +0.20 | American Apparel ▲ +0.014 | The Buckle ▲ +0.31 | Columbia ▼ -0.78 | Deckers Outdoor ▼ -0.12 | Dicks ▲ +1.09 | Foot Locker ▲ +1.20 | Genesco ▲ +0.04 | Iconix Brand Group ▲ +0.18 | Jarden Corp ▲ +0.09 | Nordstrom ▲ +0.33 | Luxottica ▲ +0.16 | Nike ▲ +0.76 | Pacific Sunwear ▲ +0.002 | Skullcandy ▼ 0.00 | Sport Chalet - 0 | Urban Outfitters ▼ -0.09 | VF Corp ▲ +0.20 | Quiksilver ▼ -0.016 | Zumiez ▲ +0.44 | Macys ▲ +0.51 | Tillys ▼ -0.02 |
Ticker Sponsor
Readers Say
I require all our executives to read it
I require all our executives to read it

There is no better publication that I am aware of that is so accurate and on top of any news and developments in our industry. I personally recommend it to many people that want to know and understand more about our industry. For the most part, shop-eat-surf.com gets the stories first. As a matter of fact, I require all the executives in our company to read it.

- By Hezy Shaked, President & CEO, Tilly's
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
Industry Insight

CIT: James Paterson joins LA office.
AGENDA: Pre-registration and lodging specials for Vegas show, Aug. 17-19.

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