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Wysłany: Pon 4:34, 25 Kwi 2011 Temat postu: nike dunks high65gcNordstrom Misses, Raises Outloo |
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dstrom Inc. (JWN), a guiding fashion specialty retailer, announced fiscal 2010 first quarter earnings of $116 million alternatively 52 pence per share, compared to $81 million alternatively 37 pence in the prior-year quarter. Quarterly earnings lagged the Zacks Consensus Estimate at 3 pence.
During the quarter, web sales additional 16.7 % year over year to approximately $2.0 billion [link widoczny dla zalogowanych], meantime absolute revenue rose 16.5% to $2.1 billion. The increase in sales was mainly due to one improved merchandise attempting. Same-store sales during the quarter increased 12.0% compared to the year-earlier quarter. Top-selling items contained jewelry, clothes and women's shoes. Geographically, the top fulfilling zones of the company were Midwest, Northeast and Southern regions of the />
Same-store sales of Nordstrom Rack increased 1.9% in the first quarter compared to the year-ago period. Gross profit of the company (as a ratio of net sales) increased approximately 245 basis points during the quarter due to correction in merchandise margin, coupled with rebate in buying and occupancy prices. Sales per square foot increased 13.0% during the quarter, while inventory per square foot increased 1.9% year over year.
Selling [link widoczny dla zalogowanych], common and managerial expenses bulged $86 million during the 15 min deserving apt the timing of incentive-related expenses and higher expenses related to current cache openings. However, ascend in revenues and higher gross margin extra than offset the mushroom in operating expenses. Consequently [link widoczny dla zalogowanych], Nordstrom recorded a 50.0% growth in operating earnings apt $219 million from $146 million in the year-ago phase.
During first quarter of fiscal 2010, Nordstrom had cash and equivalents of $1.0 billion and long-term debt of $2.8 billion, compared to $78 million of cash and $2.0 billion of long-term debt in the year-ago period. It opened 2 full-line stores and 6 Nordstrom Rack stores in the first quarter of 2010.
In concurrence with the improved first quarter results, the corporation heaved its outlook for the remainder of the year. Nordstrom immediately anticipates financial 2010 income in the scope of $2.50 to $2.65 per share, compared to the earlier guidance of $2.35 to $2.55. Management further intends to align the key drivers of its business (catalogue, expenses, working capital and chief expenditures) to improve its profitability and augment free cash stream during the fiscal.
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