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24 Nov

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

by Beautifaire101
Beauty, Featured
Kohl’s Posts Q3 Declines, but Cites Progress on Strategic Initiatives
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 Cites Slowdown, Cautious Luxury Consumers
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 Reports Q1 Loss, Cites Progress in Improving Operations
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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