default-output-block.skip-main
BoF Logo

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.

Nordstrom Outlet Stores Help Fuel Growth

Nordstrom Inc. posted first-quarter sales that exceeded analysts’ estimates after its Rack discount outlets and e-commerce orders helped boost results.
By
  • Bloomberg

SEATTLE, United States — Nordstrom Inc., the largest U.S. luxury department-store chain, posted first-quarter sales that exceeded analysts' estimates after its Rack discount outlets and e-commerce orders helped boost results.

Revenue rose 9.7 percent to $3.22 billion last quarter, the Seattle-based company said in a statement Thursday. Analysts were predicting $3.17 billion in the period, which ended May 2. Though profit missed estimates last quarter, the company reaffirmed its 2015 forecast.

President Blake Nordstrom is using the company’s chain of outlets to attract more price-conscious shoppers, and he’s plowing more money into e-commerce. Nordstrom operates an online men’s clothing service called Trunk Club and the flash-sale site HauteLook. It also has invested in the Internet retailer Bonobos.

Nordstrom shares rose 1 percent to $74.87 in extended trading after the results were released. The stock had been down 6.6 percent this year through the close.

By Lindsey Rupp; editors: Nick Turner, James Callan.

© 2023 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions

More from Financial Markets
A financial lens on the ebb and flow of the fashion sector.

L Catterton, the private-equity firm with close ties to LVMH and Bernard Arnault that’s preparing to take Birkenstock public, has become an investment giant in the consumer-goods space, with stakes in companies selling everything from fashion to pet food to tacos.


Any fashion company that is contemplating going public needs to have not only the product and brand fundamentals right but also a business strategy that can easily be understood by the markets, writes Imran Amed.



The US economy grew at a slightly less brisk pace than initially thought in the second quarter as businesses liquidated inventory, but momentum appears to have picked up early this quarter as a tight labour market underpins consumer spending.


view more

Subscribe to the BoF Daily Digest

The essential daily round-up of fashion news, analysis, and breaking news alerts.

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.
CONNECT WITH US ON
Introducing The BoF Brand Magic Index
© 2023 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions, Privacy Policy, Cookie Policy and Accessibility Statement.
Introducing The BoF Brand Magic Index