×
480
Fashion Jobs
JOSEPH LTD
Full Time Menswear Supervisor (Mayfair)
Permanent · LONDON
MICHAEL KORS
Account Executive
Permanent · LONDON
OUTSIDE THE BOX RECRUITMENT
Flagship General Manager – Luxury Fashion – Regent st – £80k-£90k + Bonus
Permanent · LONDON
FOUR SEASONS RECRUITMENT
Online Customer Service Manager
Permanent · HUNGERFORD
TOO FACED
Business Manager - Boots, Brent Cross
Permanent · LONDON
FOUR SEASONS RECRUITMENT
Merchandising Manager
Permanent · LONDON
BIMBA Y LOLA
Part Time Sales Assistant Kings Road
Permanent · LONDON
BIMBA Y LOLA
Sales Assistant Richmond
Permanent · LONDON
BIMBA Y LOLA
Part Time Sales Assistant Notting Hill
Permanent · LONDON
FOUR SEASONS RECRUITMENT
Showroom Sales Representative
Permanent · LONDON
TOO FACED
Business Manager - John Lewis Brent Cross
Permanent · LONDON
OUTSIDE THE BOX RECRUITMENT
Ltrtw & Mtm Client Service Manager – Luxury Ladieswear – Knightsbridge – £30k-£40k + Comm
Permanent · LONDON
OUTSIDE THE BOX RECRUITMENT
Haute Couture Client Service Manager – Luxury Ladieswear – Mayfair– £40k-£60k + Comm
Permanent · LONDON
MAJE
Sales Supervisor, Full-Time - Harrods, London
Permanent · LONDON
BIMBA Y LOLA
Part Time Sales Assistant Canary Wharf
Permanent · LONDON
HEAD OFFICE
Brand Manager
Permanent · LONDON
BETTY BARCLAY GROUP GMBH & CO KG
Retail Operations Manager
Permanent · LONDON
RETAIL PERM
Beauty Salon Manager
Permanent · LONDON
TOO FACED
Business Manager - Liverpool - New Mersey Retail pk (Speke), UK
Permanent ·
TOO FACED
Business Manager - Lisburn Sprucefield sc, UK
Permanent ·
TOO FACED
Business Manager - Stockton on Tees Teeside, UK
Permanent ·
TOO FACED
Business Manager Tamworth Ventura RP, UK
Permanent ·

Nordstrom beats grim retail landscape, lifts 2019 forecast

By
Reuters
Published
today Nov 22, 2019
Reading time
access_time 2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Nordstrom Inc raised its 2019 forecast unlike many competitors and reported third-quarter profit above Wall Street expectations on Thursday, sending the retailer’s shares up about 10% in extended trading.


For the holidays, Nordstrom is expanding its gift assortment across full-price and off-price, and is offering services like free next-day shipping, 24/7 order pickup and complementary gift wrapping - Nordstrom


The Seattle-based company, which sells everything from apparel and footwear to home decor, said investments in its loyalty program and digital marketing also helped sell more merchandise.

“We’ve been purposeful about improving inventory flow, refining product allocation and emphasizing merchandise that’s seasonally relevant,” said Nordstrom co-President Erik Nordstrom on a call with investors.

Top-performing brands in the quarter included Topshop, Nike Inc, Canada Goose, Louis Vuitton and Valentino, he said.

Nordstrom, like other brick-and-mortar retailers, is seeking to lure shoppers to malls and away from big-box budget retailers like Target Corp and Walmart Inc, or online sellers like Amazon.com Inc.

In a bid to attract new customers and retain existing ones, the retailer has been rolling out concept stores such as “Nordstrom Local,” which holds no stock and serves as pickup points for online orders and returns, while also providing personal styling and tailoring options.

It opened a New York City flagship store last month with a suite of services with cafes, a donut shop, fine-dining restaurants and a full bar at the center of its women’s shoe floor. In June, Nordstrom entered into a partnership with clothing rental firm, Rent the Runway.

For the holidays, Nordstrom is expanding its gift assortment across full-price and off-price, and is offering services like free next-day shipping, 24/7 order pickup and complementary gift wrapping, it said.

Gordon Haskett analyst Chuck Grom applauded Nordstrom for its performance in off-price but noted that its full-line stores continue to experience softness.

“Expect to see a relief rally given how much the stock has been under pressure year-to-date,” Grom said.

Nordstrom’s stock is down roughly 30% year-to-date.

The company also raised the lower-end of its full-year profit to $3.30 to $3.50 per share from the prior forecast of $3.25 to $3.50 per share and said the impact of U.S. tariffs would not be significant for the year.

Nordstrom’s upbeat guidance comes in contrast to profit forecast cuts by larger rivals Macy’s Inc and Kohl’s Corp ahead of the crucial holiday season.

Net sales at its off-price stores rose 1.2% in the third quarter and digital sales climbed about 7%.

Excluding items, the company earned 81 cents per share, beating analysts’ expectation of 64 cents.

Total revenue fell 2% to $3.67 billion in the third quarter ended Nov. 2, in line with the analysts’ average estimate, according to IBES Refinitiv data.
 

© Thomson Reuters 2019 All rights reserved.