World Footwear

Companies

Nordstrom earnings exceed expectations

Feb 24, 2017 United States
 Nordstrom earnings exceed expectations
The Seattle-based company today reported fourth quarter earnings that exceeded expectations, reflecting continuous improvements to its operating model
For fiscal 2016, earnings per diluted share of 2.02 US dollars exceeded the company's expectations driven by continued operational efficiencies in inventory and expense execution.

In 2016, Nordstrom reached record sales of 14.5 billion US dollars, achieving several milestones in executing its growth plans:
• Continued market expansion into Canada contributed 300 US dollars million in total sales;
• Nordstrom.com sales reached over 2.5 billion US dollars, representing approximately 25% of Nordstrom full-price sales;
• Nordstrom Rack sales grew by 11% to 4.5 billion US dollars driven by 21 new store openings and 32 percent online growth.

Total company net sales of 4.2 billion US dollars for the fourth quarter increased by 2.4% compared with net sales of 4.1 billion US dollars during the same period in fiscal 2015. Total company comparable sales for the fourth quarter decreased by 0.9%.

Total company net sales of 14.5 billion US dollars for fiscal year 2016 increased by 2.9% compared with net sales of 14.1 billion US dollars during the same period in fiscal 2015. Comparable sales for the fiscal year 2016 decreased 0.4%.

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