Nordstrom raises outlook on solid holiday
The ranks of retailers reporting a good holiday season continues to expand.
Nordstrom’s net sales rose 2.5% for the nine weeks ended December 30, 2017. Same-store sales increased 1.2%. The company said the results reflected an improvement in Nordstrom full-line and Nordstrom Rack stores relative to year-to-date sales trends and continued growth in e-commerce.
In the Nordstrom brand (includes U.S. and Canada full-line stores and Nordstrom.com) net sales when combined with Trunk Club increased 0.7% and comparable sales inched up 1%. In the Nordstrom Rack brand (includes Nordstrom Rack stores and Nordstromrack.com/HauteLook) net sales increased 8.2% and comparable sales rose 2.9%.
Based on holiday results, the retailer updated its fiscal 2017 expectations for an increase in net sales of approximately 4.2%, inclusive of the 53rd week, and an increase in comparable sales of approximately 0.5%.
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.
Similar to other retailers, Nordstrom’s updated outlook does not incorporate the potential impact of federal tax reform.
Nordstrom’s net sales rose 2.5% for the nine weeks ended December 30, 2017. Same-store sales increased 1.2%. The company said the results reflected an improvement in Nordstrom full-line and Nordstrom Rack stores relative to year-to-date sales trends and continued growth in e-commerce.
In the Nordstrom brand (includes U.S. and Canada full-line stores and Nordstrom.com) net sales when combined with Trunk Club increased 0.7% and comparable sales inched up 1%. In the Nordstrom Rack brand (includes Nordstrom Rack stores and Nordstromrack.com/HauteLook) net sales increased 8.2% and comparable sales rose 2.9%.
Based on holiday results, the retailer updated its fiscal 2017 expectations for an increase in net sales of approximately 4.2%, inclusive of the 53rd week, and an increase in comparable sales of approximately 0.5%.
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.
Similar to other retailers, Nordstrom’s updated outlook does not incorporate the potential impact of federal tax reform.