US: Nordstrom Q1 profit edges up on sales rise
- Q1 net profit up 2.9% to US$149m
- Net sales up 13.7% to $2.53bn
- Driven by strong growth in direct segment
Strong growth in the consumer direct channel and a double-digit revenue rise helped retailer Nordstrom to grow its first quarter net profit.
The US company affirmed its full-year earnings guidance following an 8.7% rise in same store sales, a 44.2% surge in direct revenues, and a 19.6% sales increase at Nordstrom Rack.
Net sales for the company’s full-line and direct businesses were up 10.8%, with same store sales rising 9.3%.
The best performing categories included handbags, women’s shoes and men’s shoes, Nordstrom said.
“Nordstrom’s first quarter performance was consistent with the company’s expectations, reflecting continued strength in same store sales across multiple channels, combined with planned significant investments in the business to improve the customer shopping experience and to enhance the platform for sustainable, profitable growth,” the company added.
US retailers have yet to weigh up the full impact of Hurricane Sandy, which hit the US East coast earlier this week between the back-to-school spending rush and the all-important shopping fest that li...
The following is a general roundup of US apparel and shoe retailers' October 2012 sales results....
A strong end to the back-to-school shopping season contributed to the solid sales results rung up by many US clothing and footwear retailers in September - but economic and political uncertainty conti...
The following is a general roundup of US apparel and shoe retailers' September 2012 sales results....
US retail sales in August were boosted by back-to-school shoppers, with most retailers booking sales gains over the month. ...
The following is a general roundup of US apparel and shoe retailers' August 2012 sales results. ...
Growth in men's shoes, men's apparel and children's apparel helped clothing retailer Nordstrom to post double-digit increases in third quarter earnings and revenue....
- Yuan devaluation impact mixed for garment firms
- Will Vietnam struggle with impending trade deals?
- The new age of disruption on apparel production
- Kurt Cavano on “the Uberfication of everything”
- Gap bullish on China growth opportunities
- US Q2 in brief: J Crew, Aeropostale, Bebe Stores
- Luen Thai to continue investment in Vietnam
- Adidas seeking to resolve shoe supplier dispute
- Adidas files trademark suit against Forever 21
- China market woes could hit consumer spending
- Global Database of the Top 1000 Apparel Producers - Company Names, Financial Performance, and Contact Details
- Ethiopia – the emerging textile and clothing industry
- Myanmar's Garment Sector in 2015 - now with updated members' directory
- Global market review of lingerie - forecasts to 2020
- Global market review of swimwear - forecasts to 2019