Nordstrom Inc., one of the United States’ leading fashion retailers, has announced financial results for the first quarter ended April 29, 2017.
Net sales of US $ 3.3 billion for the first quarter increased 2.7 per cent compared with net sales of US $ 3.2 billion during the same period in fiscal 2016. Total company comparable sales for the first quarter decreased 0.8 per cent.
During the said period, online sales were 24 per cent of total net sales, driven by 11 per cent growth at Nordstrom.com and 19 per cent at Nordstromrack.com/HauteLook. The retailer also noted increase in customer count compared with the first quarter, reflecting the its ongoing efforts to gain new customers.
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Net earnings in the period were US $ 63 million and earnings before interest and taxes (EBIT) totalled US $ 151 million, or 4.6 per cent of net sales, compared with net earnings of US $ 46 million and EBIT of US $ 106 million, or 3.3 per cent of net sales, during the same period in fiscal 2016.
