FINANCE

Nordstrom income jumps 44% in Q1

BY CSA STAFF

Seattle Nordstrom reported net earnings of $116 million for the first quarter ended May 1. This represented an increase of 43.8%, compared with net earnings of $81 million for the same quarter last year.

First quarter same-store sales increased 12.0% compared with the same period in fiscal 2009. Net sales in the first quarter were $1.99 billion, an increase of 16.7% compared with net sales of $1.71 billion during the same period in fiscal 2009.

Nordstrom’s first-quarter performance continued the sales momentum experienced throughout the latter half of 2009.

Multichannel same-store sales increased 13.7%, compared with the same period in fiscal 2009. Full-line same-store sales in the first quarter increased 11.7% and direct sales increased 38.7% compared with the same period in 2009.

Nordstrom Rack continued to experience positive performance with a same-store sales increase of 1.9% in the first quarter, compared with the same period in fiscal 2009. During the first quarter, the company opened six Nordstrom Rack stores.

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Six outstanding specialty food retailers

BY Marianne Wilson

Bi-Rite Market, a San Francisco landmark since 1940, has been named as one of the Outstanding Specialty Food Retailers of 2010 by the National Association for the Specialty Food Trade. The other winners include: Hubbell & Hudson Market & Bistro, The Woodlands, Texas; Marion Street Cheese Market, Oak Park, Ill.; Roche Bros., Wellesley Hills, Mass.; Spec’s Wine, Spirits and Finer Foods, Houston; and The Sandy Butler, Fort Myers, Fla.

Here’s a brief look at the winners:

Bi-Rite: Located in the Mission District of San Francisco, Bi-Rite has transformed itself in recent years into a premier market renowned for its restaurant-quality prepared foods, an emphasis on local products (including produce from the owner’s farms) and its rooftop beehives and herb garden.
biritemarket.com

Hubbell & Hudson Market & Bistro: Opened in 2008, Hubbell & Hudson is designed as a place for the community to shop, eat, and learn to cook under one roof.
hubbellandhudson.com

Marion Street Cheese Market: A focus on artisan cheese, meat and charcuterie, plus specialty foods, wine and beer that pair well with cheese, and a major expansion, have turned the one-time corner store into one of the Chicagoland area’s most popular shopping destinations.
marionstreetcheesemarket.com

Roche Bros.: Two generations of the Roche family have nurtured this 18-store Massachusetts-based supermarket chain into a retail success story thanks to their commitment to community service, a wide variety of products and a focus on fresh food.
rochebros.com

Spec’s Wine, Spirits and Finer Foods: Owned and operated by the same Houston family since 1962, the 72-unit Spec’s is known for its extensive selection of wines, spirits, beers, liqueurs, cigars and, in its larger stores, fine gourmet foods. The honored Houston location is a flagship, and features 21,000 specialty foods and a wine and liquor section with more than 10,000 wines and a 35-door beer cooler.
specsonline.com

The Sandy Butler: From its produce stand beginnings, The Sandy Butler has grown into a full-service specialty food market and 150-seat restaurant. The company also has its own line of specialty food products.
thesandybutler.com

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Report: Macy’s to launch exclusive line from Hugo Boss

BY CSA STAFF

Macy’s is planning to add a line from Hugo Boss to its collection of exclusive, designer clothing, The New York Post reported.

According to The Post, the new line will likely include suits, sportswear and accessories for both men and women at lower price points than what is traditionally sold under the Hugo Boss label. The line is expected to launch in the fall of 2011.

 

Siting sources close to Hugo Boss, The Post reported that the deal with Macy’s is part of Hugo Boss’ five-year plan to double the size of its U.S. business.

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