Nordstrom Q1 Net Earnings Down
Posted on: Friday, 16 May 2008, 09:00 CDT
Nordstrom, a fashion specialty retailer, has reported net earnings of $119 million, or $0.54 per diluted share, for the first quarter ended May 3, 2008, compared to $157 million, or earnings per diluted share of $0.60, in the same quarter of 2007.
Total sales in the first quarter of 2008 were $1.88 billion, a decrease of 3.8%, compared to sales of $1.95 billion during the same period in 2007.
Same-store sales decreased 6.5% for the first quarter of 2008. Gross profit was $700 million for the first quarter of 2008, compared to $739 million in the same quarter of 2007.
For the fiscal year ending January 31, 2009, the company anticipates earnings per diluted share in the range of $2.65 to $2.80, decreased from the previous range of $2.75 to $2.90.
Source: Datamonitor
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