Nordstrom 1Q Profit Sinks 24%
Seattle Nordstrom Inc. said Thursday its profit fell 24% in the first quarter. Meanwhile, earnings fell to $119 million from $157 million in the same three months last year.
Revenue slipped 4% to $1.88 billion from $1.95 billion a year ago. Same-store sales fell 6.5% for the quarter, below the expected 3% to 5% drop.
Nordstrom said margins were lower than a year ago, hurt by merchandise markdowns.
The retailer said it expects same-store sales to fall 5% to 7% in the quarter, and 4% to 6% in the year, a steeper drop than previously expected.
Nordstrom opened four stores in the first three months of the year.
Sears.com expands entertainment offerings
HOFFMAN ESTATES, Ill. Sears said it is expanding its online store to include a greater selection of entertainment products. The Sears.com site will feature a wider assortment of books, DVDs, music, software and even customizable art, nearly quadrupling the number of products available on the site.
“We want Sears.com to become a key online resource for all entertainment and home needs, in addition to the quality appliances, tools and apparel for which we are already known,” said Imran Jooma, Sears vp of e-commerce. “The expanded offering allows us to better serve our customers and offer a lot more products than we’re able to provide in our stores.”
Winn-Dixie looks to streamline operations
JACKSONVILLE, Fla. Winn-Dixie Stores said it is looking to promote information sharing amongst consumer product manufacturers by partnering with IBM, Priva Technologies and TrueDemand Software to help better align merchandising, marketing and store operations, with a focus on driving more traffic to stores, increasing the average basket size per customer store visit and enhancing customer satisfaction.
This partnership reinforces Winn-Dixie’s commitment to become a leading neighborhood grocer in every market it serves. The use of industry-standard information will allow for reduced shelf-level out of stocks and the ability to tailor product offerings to fit each individual community in the grocer’s five-state operating area.