MOSS ADAMS CAPITAL: Apparel and foowear market monitor highlights notable deals, stock prices and results.
Details on Industry Insight.
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.