×
2 502
Fashion Jobs
MICHAEL KORS
Full Time Sales Supervisor - Scarborough Town Centre
CDI · Toronto
LULULEMON
Assistant Manager, Operations | Scarborough Town Centre
CDI · Toronto
LULULEMON
Assistant Manager, Operations | Lululemon Abbotsford
CDI · Abbotsford
NORDSTROM
Asset Protection - Security Ambassador - Pacific Centre
CDI · Vancouver
NORDSTROM
Asset Protection - Agent - Pacific Centre
CDI · Vancouver
AESOP
Retail Consultant | Eaton Centre
CDI · Toronto
TJX CANADA
Loss Prevention Customer Service Agent - Thunder Bay
CDI · Thunder Bay
WINNERS
Jewelry Consultant, Full Time, Winners & Homesense, Coquitlam
CDI · Coquitlam
MICHAEL KORS
Superviseur Des Ventes Dix30/Sales Supervisor ft- Dix30
CDI · Brossard
ON RUNNING
Sales Representative
CDI · VANCOUVER
TAPESTRY
Sales (Bilingual) Supervisor i
CDI · Halton Hills
MICHAEL KORS
Gestionnaire Des Ressources Humaines – Canada/Human Resources Manager – Canada
CDI · Montreal
ESTEE LAUDER
Associate Consultant - Clinique - Toronto, on
CDI · Toronto
TJX CANADA
Loss Prevention Store Investigator - Sudbury
CDI · Greater Sudbury
AESOP
Retail Consultant / Conseiller Aux Ventes- Aesop Vieux-Montreal
CDI · Montréal
ADIDAS
Senior Manager - Product Supply
CDI · Vaughan
TJX CANADA
Loss Prevention Store Investigator - Toronto
CDI · Toronto
LEVI'S
Full-Time Sales & Merchandising Supervisor, Levi’s®, Sherway Gardens, Canada
CDI · Toronto
TJX CANADA
Senior Attorney, Real Estate
CDI · Mississauga
TJX CANADA
Loss Prevention Store Investigator - London
CDI · London
TJX CANADA
Loss Prevention Store Investigator - Calgary
CDI · Calgary
TJX CANADA
Loss Prevention Store Investigator - Kelowna
CDI · Kelowna
By
Reuters
Published
Aug 17, 2018
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Encouraged by online sales, Nordstrom raises full-year profit forecast

By
Reuters
Published
Aug 17, 2018

Upscale department store Nordstrom Inc saw its shares soar as much as 14 percent in after-hours trading on Thursday, after reporting better-than-expected quarterly same-store sales growth, as more people shopped at its online stores.


Spring 2018 campaign - Nordstrom


For 2018, the Seattle, Washington-based company expects an adjusted profit of $3.50 to $3.65 per share, compared with its previous forecast of $3.35 to $3.55.

Nordstrom managed to report upbeat results despite the problems in the broader retail sector, which has suffered from fast-changing fashion trends and discount-hungry shoppers who favor buying online.

In large part, analysts said, the results showed Nordstrom successfully boosted online traffic and transactions by promoting blowout sales on social media and making the in-store and online purchasing processes more frictionless for shoppers.

Earlier on Thursday, J.C. Penney Co Inc shares sank below $2 for the first time after it said it had alienated core middle-aged customers while chasing millennial buyers, and the venerable brand forecast an unexpectedly large loss.

At Nordstrom, online sales, helped by online promotions, rose 23 percent and accounted for 34 percent of total sales.
“We feel like their inventory doesn’t have a huge overlap with Amazon’s,” Director of Capital Markets at asset management firm Exponential ETFs Josh Blechman said.

“Because it is a little bit higher-end, that sort of lets their online offerings to shine more.”

On a conference call with investors, Nordstrom’s Co-President Blake Nordstrom also highlighted the competitive advantage Nordstrom has because of its inventory and product assortment.

“The strength of our inventory position allowed us to be fluid and respond quickly. We took swift action to accelerate inventory turns, strengthen our core assortment and improve our execution in stores.”

Nordstrom’s discount Rack stores, Co-President Nordstrom said, saw the biggest inventory change.
Same-stores sales rose 4 percent in the second quarter ended Aug. 4 across both full-price and off-price, beating the average analyst estimate of a rise of 0.81 percent, according to Thomson Reuters I/B/E/S.

Excluding items, the company earned 95 cents per share, beating estimates of 84 cents, according to Thomson Reuters I/B/E/S.

Net sales rose about 7 percent to $3.98 billion, higher than the $3.72 billion analysts had expected, and boosted by the timing of its Anniversary Sale.

© Thomson Reuters 2022 All rights reserved.