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Tiffany Montgomery
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Nordstrom Q3 beats conservative plan

By Tiffany Montgomery
November 13, 2009 5:00 AM

Nordstrom, a department store customer of the action sports industry, yesterday reported improved results in the third quarter and raised its full year guidance.

Here’s a short summary of Nordstrom’s results. Click here to read a detailed report from the conference call.

Net sales: up 3.5 % to $1.9 billion

Net income: up 16.9% to $83 million

Same-store sales: down 1.2%

Full-price Nordstrom same-store sales: down 4.2%

Rack same-store sales: up 3%

Online sales: up 16.4%

Strong categories: fashion jewelry, women’s better apparel, shoes.

Cash: $484 million

Long-term debt: $2.2 billion

Updated guidance for full year results

 

Same-store sales: down 6% to 7%

Gross profit: up 10 to 20 basis points

Earnings per share: $1.83 to $1.88 vs. $1.50 to $1.65 previous forecast.

 

 


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