Nordstrom net sales up 12.5% in fourth quarter
Nordstrom, a US-based upscale department store chain, has posted a 12.5% increase in net sales to $3.17bn in the fourth quarter ended 28 January, compared to $2.82bn in the year-ago period.
Same-store sales jumped 7.1% in the quarter, compared with the same period in fiscal 2010. Fourth quarter profit grew 1.7% to $2.82bn.
Net sales of Nordstrom Rack, the firm's discount chain, surged 17.7% to $85m in the fourth quarter, compared with the same period a year earlier, with same-store sales up 2.2%.
In the fiscal year ended 28 January, profit rose 11.4% to $683m, and same-store sales increased 7.2%. Net sales jumped 12.7% to $10.50bn in the fiscal year, compared to $9.31bn in the previous year.
The company said the total net sales of $10.50bn for fiscal 2011 were the highest in its history and represented two consecutive years of about 13% annual growth.
The Seattle-based chain operates 117 full-line stores, 104 Nordstrom Rack stores, four other stores and serves customers online and through its catalog and the private-sale website HauteLook.
Related Insight
Suppliers Directory
General Retailers Convenience Stores & Gas Stations Department Stores Hypermarkets & Supermarkets Multi-channel & Online Retailing
Specialist Retailers Apparels, Accessories & Luxury Goods Retailers Drug & Personal Care Stores Duty-free Retailers Electricals & Electronics Retailers Food, Drinks & Grocery Retailers Home Furniture & Houseware Retailers Tobacco Retailers Leisure, Sports & Entertainment
Markets & Regulations Markets Supply Chain Management Regulatory & Policy
Retail Technology
Comments may be moderated for spam, obscenities or defamation.