Nordstrom’s 4Q profits, sales up
By APMonday, February 22, 2010
Nordstrom’s 4Q results at a glance
Nordstrom Inc. said Monday that its fourth-quarter profit more than doubled from a year ago as the upscale retailer, cushioned by lean inventory, didn’t have as many clearance racks to get rid of.
Here’s a breakdown of the quarter’s report:
EARNINGS: Nordstrom earned $172 million, or 77 cents per share, for the period that ended Jan. 30. A year earlier, Nordstrom earned $68 million, or 31 cents per share.
GROSS PROFITS: Gross profits as a percentage of net sales rose 5.3 percentage points compared with the year-ago period.
TOTAL SALES: Total revenues reached $2.64 billion, up from $2.39 billion in the year-ago quarter.
SALES AT STORES OPEN AT LEAST A YEAR: Overall, sales at stores opened at least a year rose 6.9 percent. Sales at stores opened at least a year at its regular-price stores rose 3.9 percent, while the company’s Nordstrom Rack had an increase of 4.6 percent. Sales at stores opened at least a year are considered a key indicator of a retailer’s health.
BRIGHT SPOTS: Women’s clothing, women’s shoes and jewelry. The Midwest, South and Norwest regions were the top performing geographical areas for the company’s regular price stores.
