Within the last fiscal year, Nordstrom is up 22.5 percent. The company has advanced it conglomerate revenue to $180 million this year as it introduced its falsh sales site, HauteLook. Nordstrom's same-store sales and top-line trends were also encouraging--total revenue grew 12 percent (MSNMoney).
During the quarter, Nordstrom's same-store sales jumped 7.8%, driven by the Designer, Jewelry and Men's Apparel categories. Full-line same-store sales growth was driven by strong performances in the Midwest and the South. Same-store sales at Nordstrom Rack increased by 1.2%. The company expects same-store sales to grow in the range of 2% to 4% in fiscal 2011.
Retail selling and expenses increased $78 million to $697 million in the quarter, primarily due to increased operating expenses as well as higher volume of sales and HauteLook operating expenses and purchase accounting charges. Credit selling shrunk 40.2% year over year to $55 million. The company expects 2011 gross margin to range from down-to-up 10 basis points (MSNMoney). Nordstrom's operating income posted an increase of $53 million year over year to $272 million.
Given the recent success of the company over the recent fiscal year, especially within the last quarter, the Nordstrom website has created a more thorough “Investor FAQ” section of its website. The investor relations on the web entail the directions to contact the larger bodies of corporate governance for stocks (Mergent). Nordstrom has an accessible earnings release calendar so that share/stockholders can see and understand what is going on in the market. As a privately-owned company, Nordstrom has rights to their earnings, but makes sure it is transmittable to its investors.