Nordstrom Reports November and December Combined Sales
January 09 2018 - 4:05PM
Business Wire
Nordstrom, Inc. (NYSE: JWN) today announced an increase in its
net sales of 2.5 percent and an increase in comparable sales of 1.2
percent for the nine weeks ended December 30, 2017, compared with
the same period last year. This reflected an improvement in
Nordstrom full-line and Nordstrom Rack stores relative to
year-to-date sales trends and continued growth in e-commerce at
Nordstrom.com and Nordstromrack.com/HauteLook.
In the Nordstrom brand, including U.S. and Canada full-line
stores and Nordstrom.com, net sales when combined with Trunk Club,
increased 0.7 percent and comparable sales increased 1.0 percent.
In the Nordstrom Rack brand, which consists of Nordstrom Rack
stores and Nordstromrack.com/HauteLook, net sales increased 8.2
percent and comparable sales increased 2.9 percent.
Based on holiday results, the Company has updated its fiscal
2017 expectations for an increase in net sales of approximately 4.2
percent, inclusive of the 53rd week, and an increase in comparable
sales of approximately 0.5 percent. Nordstrom expects full-year
earnings per diluted share to be in a range of $2.90 to $2.95,
compared with its prior outlook of $2.85 to $2.95. This reflects
sales performance near the high end of the Company’s outlook range,
continued stability in merchandise margins and expected deleverage
from higher supply chain, technology, and occupancy expenses
associated with Nordstrom’s growth initiatives. The Company’s
updated outlook does not incorporate the potential impact of
federal tax reform.
The Company is scheduled to report its fourth quarter and
full-year 2017 financial results after the close of the financial
markets on Thursday, March 1, 2018. Additional detail on the
Company’s financial performance will be provided at that time.
ABOUT NORDSTROM
Nordstrom, Inc. is a leading fashion retailer based in the U.S.
Founded in 1901 as a shoe store in Seattle, today Nordstrom
operates 366 stores in 40 states, including 122 full-line stores in
the United States, Canada and Puerto Rico; 232 Nordstrom Rack
stores; two Jeffrey boutiques; two clearance stores; seven Trunk
Club clubhouses; and its Nordstrom Local service concept.
Additionally, customers are served online through Nordstrom.com,
Nordstromrack.com, HauteLook, and TrunkClub.com. Nordstrom, Inc.'s
common stock is publicly traded on the NYSE under the symbol
JWN.
Certain statements in this news release contain or may suggest
"forward-looking" information (as defined in the Private Securities
Litigation Reform Act of 1995) that involve risks and uncertainties
including, but not limited to, our anticipated financial outlook
for the fiscal year ending February 3, 2018, our anticipated
annual total and comparable sales rates, our anticipated new store
openings in existing, new and international markets, our
anticipated Return on Invested Capital and trends in our
operations. Such statements are based upon the current beliefs and
expectations of our management and are subject to significant risks
and uncertainties. Our actual future results may differ materially
from historical results or current expectations depending upon
factors including, but not limited to: successful execution of our
customer strategy, including expansion into new domestic and
international markets, acquisitions, investments in our stores and
online, as well as investments in technology, our ability to
realize the anticipated benefits from growth initiatives and our
ability to provide a seamless experience across all channels; our
ability to respond to the business and retail environment, fashion
trends and consumer preferences, including changing expectations of
service and experience in stores and online, and evolve our
business model; timely and effective execution of our ecommerce
initiatives and ability to manage the costs and organizational
changes associated with this evolving business model; successful
execution of our information technology strategy; our ability to
effectively utilize data in strategic planning and decision making;
timely completion of construction associated with newly planned
stores, relocations and remodels, all of which may be impacted by
the financial health of third parties; efficient and proper
allocation of our capital resources; the impact of any systems or
network failures, cybersecurity and/or security breaches, including
any security breach of our systems or those of a third party
provider that results in the theft, transfer or unauthorized
disclosure of customer, employee or Company information or
compliance with information security and privacy laws and
regulations in the event of such an incident; effective inventory
management processes and systems, fulfillment processes and
systems, disruptions in our supply chain and our ability to control
costs; the effect of the announcement by the members of the
Nordstrom family relating to the exploration of a possible “going
private transaction” on our relationships with our customers,
employees, suppliers and partners, operating results and business
generally; our ability to safeguard our reputation and maintain our
vendor relationships; our ability to maintain relationships with
and motivate our employees and to effectively attract, develop and
retain our future leaders, which could be impacted by the
uncertainty about the possibility of a “going private transaction;”
our ability to realize the expected benefits, respond to potential
risks and appropriately manage costs associated with our program
agreement with TD Bank USA, N.A. (“TD”); the effectiveness of
planned advertising, marketing and promotional campaigns in the
highly competitive and promotional retail industry; potential
goodwill impairment charges, future impairment charges and
fluctuations in the fair values of reporting units or of assets in
the event projected financial results are not achieved within
expected timeframes; the timing, price, manner and amounts of
future share repurchases by the Company, if any, or any share
issuances by the Company, including issuances associated with
option exercises or other matters; the impact of economic and
market conditions and the resultant impact on consumer spending
patterns; the impact of economic or political conditions in the
U.S. and countries where our third party vendors operate; weather
conditions, natural disasters, health hazards, national security or
other market disruptions, or the prospects of these events and the
resulting impact on consumer spending patterns or information
technology systems and communications; our compliance with
applicable domestic and international laws, regulations and ethical
standards, including those related to banking, employment and tax
and the outcome of claims and litigation and resolution of such
matters; the impact of the current regulatory environment and
financial system and health care reforms; and compliance with debt
covenants, availability and cost of credit, changes in our credit
rating, changes in interest rates, debt repayment patterns and
personal bankruptcies. Our SEC reports, including our Form 10-K for
the fiscal year ended January 28, 2017, and our Form 10-Q for
the fiscal quarters ended April 29, 2017, July 29, 2017 and October
28, 2017, contain other information on these and other factors that
could affect our financial results and cause actual results to
differ materially from any forward-looking information we may
provide. The Company undertakes no obligation to update or revise
any forward-looking statements to reflect subsequent events, new
information or future circumstances, except as required by law.
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version on businesswire.com: http://www.businesswire.com/news/home/20180109006597/en/
Nordstrom, Inc.INVESTOR CONTACT: Trina Schurman,
206-303-6503MEDIA CONTACT: Gigi Ganatra Duff,
206-303-3030
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