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24 Nov

Kohl’s Posts Q3 Declines, but Cites Progress on Strategic Initiatives

by Beautifaire101
Beauty, Featured
Updated Nov. 21 at 11:37 a.m. EST Kohl’s Corp. last quarter continued to yield sales and profit declines, but raised its bottom-line outlook for the yr and cited progress on turnaround strategies. On Tuesday, the Menomonee Falls, Wisc.-based retailer reported that its net income for the quarter ended Oct. 28 fell to $59 million, or 53 cents per diluted share, beating expectations of 35 cents. Within the year-ago period, net income reached $97 million, or 82 cents per diluted share. Operating income was $157 million in comparison with $200 million within the prior yr. As a percentage of total revenue, operating income was 3.9 percent, a decrease of 82 basis points year-over-year. Net sales decreased 5.2 percent year-over-year, to $3.8 billion, with comparable sales down 5.5...
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23 Nov

Neiman Marcus Group Cites Slowdown, Cautious Luxury Consumers

by Beautifaire101
Beauty, Featured
Neiman Marcus Group, confronting a volatile macro economy and increasingly cautious consumers, saw a dip in each revenues and profitability in its first fiscal quarter which ended Oct.28. Adjusted earnings before interest, taxes, depreciation and amortization, eased to $95 million in the most recent three-month period, versus $112 million within the prior-year period, the corporate disclosed to WWD on Wednesday. The luxurious retailer, operator of Neiman Marcus and Bergdorf Goodman stores and e-commerce web sites, also reported $948 million in sales for its last fiscal quarter, in comparison with $1.034 billion within the prior 12 months. Same-store sales fell 8 percent last quarter. The corporate ended the quarter with $35 million of money, versus $194 million within the prior-year period. “The decline in...
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1 Jun

Nordstrom Reports Q1 Loss, Cites Progress in Improving Operations

by Beautifaire101
Beauty, Featured
Nordstrom Inc., impacted by declining revenues and charges related to the withdrawal from Canada, reported a net lack of $205 million in the primary quarter, in comparison with a profit of $20 million within the year-ago period. For the primary quarter ended April 29, the Seattle-based retailer recorded $309 million of estimated pre-tax charges related to the wind-down of Canadian operations, consistent with its previously estimated range of $300 million to $350 million. The primary quarter 2023 results include Canadian operations through March 2, when it discontinued support for Nordstrom Canada. The corporate is early within the wind-down process and your entire shutdown of Nordstrom’s Canada operations — six shops, seven Rack units and e-commerce — needs to be accomplished this month. Nordstrom’s loss before interest and tax was $259...
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