Nordstrom reported that net income for its second quarter rose 20 percent to $175 million, compared with $146 million in the year earlier period. Revenue surged 12.4 percent to $2.72 billion, benefited by strong promotions and matching Wall Street estimates. Same-store sales rose a solid 7.3 percent. The department store retailer has raised its profit outlook for the full year.
Today is National Relaxation Day and retailer Tommy Bahama, a company built on the principles of relaxation, is embracing the concept as the "unofficial outfitter" for the holiday. Known for relaxed, casual clothing, Tommy Bahama's philosophy is to make life one long weekend.
LITTLE ROCK, Ark. — Shortly after Nordstrom reported a 20% quarterly earnings gain, fellow luxury retailer Dillard's posted net income of $17.6 million, or 32 cents per share, compared with $6.8 million, or 10 cents per share, for the same period last year. Same-store sales for the second quarter were up 6%. Net sales for the quarter were $1.44 billion compared with $1.4 billion last year. Dillard’s CEO, William Dillard, II, stated, “Our strong second quarter operating results solidified a very successful first half of 2011, essentially doubling our earnings per share to $1.66 from 80 cents. While we
PLANO, Texas — While such higher-end apparel retailers as Nordstrom and Dillard's boasted impressive quarterly earnings and sales, those that cater to the middle class didn't deliver quite as strongly. Case in point, JCPenney, which reported net income of $14 million, or 7 cents per share, for the second quarter ended July 30. Net income for the same period last year was $14 million, or 6 cents per share. The company reported that same-store sales for the quarter increased 1.5% thanks to increased interest in its exclusive and private brands and the expansion of Sephora. Total sales were down
Seattle -- Nordstrom reported Thursday that net income for its second quarter rose 20% to $175 million, compared with $146 million in the year earlier period. Revenue surged 12.4% to $2.72 billion, benefited by strong promotions and matching Wall Street estimates. Same-store sales rose a solid 7.3%. The department store retailer has raised its profit outlook for the full year. Its outlet concept Nordstrom Rack saw net sales increase 23.4% to $92 million, and same-store sales rose 4.8%. "We're mindful of the economic challenges facing all of us," said Blake Nordstrom, president, during a conference call. "However, we know
Major retailers, including Nordstrom and Gap, have begun offering electronic versions of receipts, either emailed or uploaded to password-protected websites. The retailers report more customers are opting for paperless.
The popularity of flash-sale websites with limited time and inventory offerings has grown exponentially over the past two years. Online shoppers’ love for the thrill of snagging designer clothing, home décor, travel and even wine has caused visits to the category to increase 368 percent in July 2011 as compared to the same month two years ago and 109 percent one year ago.
Columbia Sportswear announced a collaboration with Jeffrey Kalinsky, founder of Jeffrey New York and executive vice president of designer merchandising for Nordstrom, to create a line of impeccably appointed, outdoor-inspired pieces. The resulting line of five men's products — four outerwear pieces and one boot — will be available exclusively at Jeffrey New York in mid-September as well as at five Nordstrom locations.
Ultra-affluents, those with incomes of $250,000 and above, are the wealthiest 2 percent of U.S. households who spend the most in the consumer economy. Life is good for the retailers who can capture this market. However, as data from Unity Marketing shows, holding onto the ultra-affluent market is a job even the top retailers struggle with.
Barneys New York, Nordstrom and Bergdorf Goodman ranked as the top luxury department stores among the ultra-affluent in the Luxury Report 2011 by Unity Marketing. The survey also uncovered signs that the wealthiest consumers are slowing their pace of shopping in these stores.