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Fashion Jobs
NORDSTROM
Assistant Manager - Asset Protection - Eaton Center
CDI · Toronto
NORDSTROM
Asset Protection - Agent - Heartland Town Center Rack
CDI · Mississauga
LULULEMON
Assistant Manager, Operations | Upper Canada Mall
CDI · Newmarket
AESOP
Part-Time Retail Consultant | Aesop Kitsilano
CDI · Vancouver
LULULEMON
Assistant Manager, Operations | Bower Place
CDI · Red Deer
SHISEIDO
Director, Human Resources
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MICHAEL KORS
ft Sales Supervisor
CDI · Mississauga
ADIDAS
Senior Finance Manager, Commercial
CDI · Vaughan
ADIDAS
Director of Finance - Adidas
CDI · Vaughan
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
By
Reuters
Published
Mar 2, 2022
Reading time
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Nordstrom shares jump after retailer projects strong full-year results

By
Reuters
Published
Mar 2, 2022

Nordstrom forecast full-year revenue and profit above estimates on Tuesday, signaling strong demand for its upscale apparel and footwear as Americans resume normal life, and driving its shares up 38% in extended trading.


Nordstrom's total revenue rose 23% to $4.49 billion in the fourth quarter - Facebook: Nordstrom


Wall Street analysts had criticized Nordstrom last year for the underwhelming performance of its off-price Rack division and its inability to ensure its stores were sufficiently stocked.

"Our primary focus is on three areas: improving Nordstrom Rack performance, increasing profitability and optimizing our supply chain and inventory flow," said Erik Nordstrom, the company's chief executive officer.

The forecast helped quell investor worries that Nordstrom, beset by global supply chain disruptions due to shipping logjams, would underperform its rivals after the department store chain's shares fell 28% in 2021.

Nordstrom said inventory levels at the end of the fourth quarter were higher than planned, although it expects to reduce its stocks relative to sales during the current quarter.

The department store chain said it expects to be in a position to return cash to shareholders in the first quarter. It had suspended quarterly dividends and share repurchases in 2020 to weather the pandemic's impact.

Nordstrom forecast fiscal 2022 revenue to rise between 5% and 7%, while analysts on average forecast a 3.66% growth, according to Refinitiv IBES data.

It also estimated full-year earnings per share, excluding the impact of any potential share repurchase activity, to be between $3.15 and $3.50. Analysts on average were expecting $2.01 per share.

Larger rivals Kohl's Corp and Macy's Inc also predicted that their 2022 sales and profits would beat expectations.

Nordstrom's total revenue rose 23% to $4.49 billion in the fourth quarter, beating estimates of $4.35 billion. Net income surged six-fold to $200 million, or $1.23 per share.

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