Nordstrom Inc. said after the markets closed that its third quarter results were impacted by a shift in the timing of the Anniversary Sale.
For the three months ended Nov. 2, net income fell 6.2 percent to $137 million, or 69 cents a diluted share, from $146 million, or 71 cents, a year ago. The company said the Anniversary Sale, historically its largest sale event of the year, occurred in the second quarter this year, compared with the second and third quarters a year ago. The company estimated that the shift increased diluted EPS in the second quarter and reduced diluted EPS in the third quarter by 6 cents. Total revenues for the period rose 2.8 percent to $2.88 billion from $2.81 billion. Revenues included a net sales gain of 2.9 percent to $2.79 billion from $2.71 billion, with the balance of revenues from its credit card business. Comparable-store sales in the quarter rose 0.1 percent.
Nordstrom also said comps for the full-line and direct businesses fell 0.7 percent, with cosmetics, women's apparel and women's shoes the top performing categories in the period. Nordstrom Rack saw sales up 16 percent, reflecting 20 store openings since the third quarter a year ago, with Rack comps gaining 3.7 percent in the current reporting period. HauteLook sales rose 22 percent.
The company said it will open four new Rack stores and relocate one Rack store during the balance of fiscal 2013.
@kith is moving into children’s. The men’s and women’s streetwear brand has launched Kidset, a Kith kids line located in New York at 64 Bleecker Street. The line includes mini versions of staple Kith pieces like the Astor bomber jacket and the Kith box logo sweatshirts, along with a wall that can display up to 120 pairs of shoes from @adidas, @newbalance, @timberland and more. #wwdfashion
“I just wanted to create this fully rounded character, but I do think what excited me most was just the opportunity to give a group of people representation that I feel needs it. I like to do characters in projects that stand for something and Karolina definitely does, so that was really exciting to me,” @ginnygardner says of her new role in @hulu’s “The Runaways.” Gardner plays Karolina Dean, a queer superhero, which is a rarity for @marvel. Read more about Gardner’s character on WWD.com #wwdeye (📷: @dandoperalski)
@heriethpaul and @gracebol have a moment on the @victoriassecret fashion show 2017. See every look from the runway on WWD.com. Link in bio. (📷: @giovanni_giannoni_photo) #wwdfashion #victoriassecret #VSFashionShow
“Azzedine has been one of the biggest influences in my life. He has always been such a strong, loving, fatherly figure to me. I call him Papa. His designs are indescribably unique, they are pieces of art. He knew how to make the female form look its loveliest. I have so many memories of him; my favorite might be during my first show with him in Paris. He liked me and he wanted to help me get more work. He called all his friends at Kenzo and Comme des Garcons, and asked them to book me. They said, ‘But she can’t walk!’ And he said, ‘but she has such a great ass!' His friendship and support has been the great privilege of my career. I can't imagine life without him. Repose en paix mon Papa.” - @stephanieseymour tells @wwd. #wwdfashion (📷: @steveeichner) #alaia #azzedinealaia
Azzedine Alaïa, flanked by two of his closest friends, models Stephanie Seymour and Naomi Campbell.
He designed Seymour’s dress for her 1995 wedding to Peter Brant, and treated Campbell (who famously called him Papa), like a daughter. For more on the legendary designer, tap the link in bio. #wwdfashion #alaia #azzedinealaia