Nordstrom Inc., one of the leading fashion retailers in the United States, has announced the financial results for the fourth quarter and full year ended February 3, 2018.
The fashion retailer reported an increase of 8.4 per cent in total net sales to US $ 4.6 billion in the reporting quarter. Net earnings for the quarter stood at US $ 151 million as compared to net earnings of US $ 201 million in the same period last fiscal.
Nordstrom.com and Trunk Club together reported a 6.4 per cent increase in net sales and 2.4 per cent increase in comparable sales. Kids’ and Men’s Apparel emerged as the top-performing merchandise categories for the retailer across the US’ full-line stores and nordstrom.com.
Nordstrom Rack brand, in particular, noted a 15 per cent and 3.7 per cent increase in net sales and comparable sales, respectively, in the fourth quarter of the reporting fiscal.
In the reporting fiscal, the fashion brand reported a 4.4 per cent increase in the total company net sales to US $ 15.1 billion as compared to net sales of US $ 14.5 billion last fiscal. It reported a 0.8 per cent increase in comparable sales.
The retailer is now planning to add one new full-line store, 12 new Nordstrom Rack stores and relocation of one Nordstrom Rack store in 2018 while it expects to note net sales of US $ 15.2 to US $ 15.4 billion in fiscal 2018.
Presently, Nordstrom runs around 365+ stores the United States, Canada and Puerto Rico; and 232 Nordstrom Rack stores.
