Nordstrom profit drops, Escada crumbles, AA ekes out profit, Harrod’s secret, Designers learn the ropes

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Nordstrom 2Q Profit Drops 27% But Raises Full-Year View (WSJ)
“Nordstrom Inc.’s fiscal second-quarter profit decreased 27 percent as the high-end clothing retailer reported lower same-store sales. But disciplined inventory and expense management helped the company report results in line with Wall Street’s expectations, and Nordstrom became slightly less downbeat about the same-store sales decline this year.”

Escada Denies Herz Brothers Turnaround Coup as Company Crumbles (Bloomberg)
“Billionaire brothers Wolfgang and Michael Herz learned the hard way today that investment prowess doesn’t necessarily run in the family. The brothers, heirs to the fortune of Hamburg coffee retailer Tchibo Holding AG, saw their investment in fashion house Escada AG crumble to little over 3 million euros ($4.3 million) from about 75 million euros in mid-2008.”

American Apparel Q2 beats St, cuts 2009 sales view (Reuters)
American Apparel Inc posted a second-quarter profit that beat market expectations, but said it might post a full-year loss as the clothing retailer sees lower sales.”

What is Harrods’ secret? (Retail Week)
“Iconic department store Harrods provided a rare glimpse of hope in retail as it recorded a 9 percent uplift in sales in its full year accounts to £752m. It seems Harrods’ clientele are not letting the recession stop them splashing the cash.”

Even creative minds need a head for business (Retail Week)
“Fashion Fringe at Covent Garden is helping new designers learn about the world of retail and supply chain – an area many know little about.”