By  on August 17, 2007

Nordstrom Inc. on Thursday posted a slight jump in second-quarter earnings and raised full-year guidance.
For the three months ended Aug. 4, earnings rose 0.9 percent to $180.4 million, or 71 cents a diluted share, from $178.8 million, or 67 cents, in the same year-ago period. Sales for the quarter climbed 5.2 percent to $2.39 billion from $2.27 billion, while same-store sales increased 5.9 percent.

For the six months, earnings increased 8.8 percent to $337.2 million, or $1.30 a diluted share, from $310 million, or $1.15, last year. Sales rose by 7 percent to $4.34 billion from $4.06 billion.

The luxury department store raised full-year guidance to between $2.91 and $2.97 a diluted share, from its previous range of $2.81 to $2.90.

"Our top-performing departments were our designer and accessories businesses, which are [the] most fashion-forward and aspirational areas of our stores. Our customers' passion and desire for the hottest brands and styles remain strong," said Blake Nordstrom, president, in a call to Wall Street analysts.

Nordstrom added the company's anniversary sale provides customers the chance to shop for new fall merchandise before the season begins. "The event showcases pressed merchandise at temporarily reduced prices during a historically softer time of the year for retailers. By giving our customers compelling reasons to buy something new, our July sales volume approaches levels we see in December," he said.

Michael Koppel, executive vice president and chief financial officer, said on the call the company expects third-quarter earnings in the range of 61 cents to 64 cents a diluted share.

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