Nordstrom Inc. (NYSE: JWN) today reported its results for the second
quarter, which reflected a shift in timing of the Anniversary Sale event
with one week of the event moving into the fiscal third quarter. Net
earnings were $156 million, or $0.75 per diluted share, for the second
quarter ended July 28, 2012, compared with net earnings of $175 million,
$0.80 per diluted share, for the same quarter last year.
The Anniversary Sale is historically the company's largest sale of the year and started one week later in July relative to last year. The company expected the event shift to cause an unfavorable comparison in the second quarter, offset by a favorable impact in the third quarter.
Second quarter sales and Anniversary Sale results through the end of July exceeded company expectations. Second quarter same-store sales increased 4.5 percent compared with the same period in fiscal 2011. Net sales in the second quarter were $2.92 billion, an increase of 7.4 percent compared with net sales of $2.72 billion during the same period in fiscal 2011.
Nordstrom's second quarter performance reflected top-line strength consistent with the Company's growth strategy to elevate the customer experience and innovate through ongoing investments.
Nordstrom net sales, which include results from the full-line and direct businesses, increased $139 million, or 6.1 percent, compared with the same period in fiscal 2011. Same-store sales increased 4.9 percent.
Top-performing merchandise categories included handbags, women's shoes and cosmetics.
Most Popular Stories
- Marketo Makes a Mint in IPO: Stock Shoots Up More than 50 Percent
- Bieber Booed at Billboard Awards
- Georgia GOP Preaches Minority Outreach
- Ford's Supplier Diversity Program Turns 35
- GM Joins Nissan to Supply Small Cargo Vehicle
- Apple CEO: Offshore Units Not a 'Tax Gimmick'
- Ford Trucks See Boost as Roadshow Reaches Saudi Arabia
- US Senate Accuses Apple of Large-scale Tax Avoidance
- Kerry Concerned Over Blasphemy Laws, Anti-Semitism
- Soderbergh: Why He Quit Movies