Nordstrom Department Stores Exceeded Expected Net Sales In The Third Quarter, Up 2.4% Over Last Year.

As of October 29th this year, high-end department stores in the US

The third quarter sales exceeded expectations, although net income declined by US $10 million over the same period last year, but net sales increased 7.2% to 3 billion 470 million US dollars compared with 3 billion 200 million US dollars in the same period last year, while same store sales increased 2.4%.

As the group's internal adjustment led to an increase in operating costs, Nordstrom sales increased, but profits declined, and the Trunk Club of the men's clothing website acquired in 2014 suffered a $197 million impairment loss.

The group stressed that Trunk Club's sales continued to grow, but its future growth potential and profitability were lower than originally anticipated. Now Trunk Club is undertaking business reforms.

The annual sales promotion during the second quarter was pferred to the third quarter this year, excluding the impact of the pfer. The sales volume of the same store increased by 0.4% over the same period last year. Nordstrom's low price website NordstromRack.com and American flash purchase website HauteLook increased 10.1% and the same store sales increased 3.9%.

Nordstrom

It is estimated that profits and sales in 2016 will grow by 3.5%, and same store sales will be roughly flat, increasing by 1.8 US dollars from 1.7 US dollars in the same period last year.

Previously, the group estimated $2.60 to $2.75 a share, with sales growth of 2.5% to 4.5%, while same store sales decreased from 1% to 1%.

The group said clothing for men and women is the best performing product type, especially younger.

The cowboy series and the cutting-edge designer brand have performed well. The beauty business has been in the hottest category. The other product types of the group also exceed the average value, and the sales volume of the top 20 brands has increased by 20%.