180
Fashion Jobs
SAMSOE
Account Manager no (Menswear)
Permanent · OSLO
BEST SELLER
Bestseller Søker Business Controller Til Vero Moda
Permanent · OSLO
ABBOTT
Territory Manager
Permanent ·
NEW YORKER
Butikkselger 100% Til New Yorker i Bergen
Permanent · BERGEN
H&M
Sales Advisor, Deltid - Metro Senter, Lørenskog
Permanent ·
H&M
Sales Advisor, Deltid - Amfi Kanebogen, Harstad
Permanent · HARSTAD
H&M
Sales Advisor, Deltid 80% (Vikariat) - h&m Torgkvartalet, Stjørdal
Permanent · STJØRDAL
H&M
Sales Advisor (Sommerassistenter) - Strandtorget, Lillehammer
Permanent · LILLEHAMMER
H&M
Sales Advisor (Sommerassistenter) - Nordbyen Kjøpesenter, Larvik
Permanent · LARVIK
H&M
Sales Advisor (Sommerassistenter) - Farmanstedet, Tønsberg
Permanent · TØNSBERG
H&M
Sales Advisor, Deltid (Vikariat) - Alti Mandal
Permanent · MANDAL
ZIZZI
no: Salgsassistent. 20% Vikariat
Permanent · STRØMMEN
NEW YORKER
Ekstrahjelp/Sommerhjelp Til New Yorker i Hamar
Permanent · HAMAR
TOMMY HILFIGER
Tommy Hilfiger is Looking For a Sales Assistant (Full Time) For Our Outlet Store, Vestby
Permanent ·
TOMMY HILFIGER
Stockroom Manager, Tommy Hilfiger - Vestby Outlet
Permanent ·
POPKEN FASHION GMBH
Social Media Manager (M/W/D) - Norwegian Market (Freelancer)
Permanent · OSLO
POPKEN FASHION GMBH
Copywriter/Translator - Norwegian Market (Freelancer)
Permanent · OSLO
PANDORA
Sales Assistant Part Time (M/F/X) - Sandvika Storsenter
Permanent · SANDVIKA
JACK & JONES
Jack & Jones Lillehammer Strandtorget Søker Deltid 80%
Permanent · LILLEHAMMER
H&M
Sales Advisor (Sommerassistent) - Kvadrat Kjøpesenter, Sandnes
Permanent · SANDNES
JIMMY CHOO
Sales Associate - Oslo - Norway
Permanent · OSLO
H&M
Sales Advisor (h&m Home) - Karl Johan, Oslo
Permanent · OSLO
By
Reuters
Published
Feb 24, 2017
Reading time
2 minutes
Download
Download the article
Print
Text size

Lower inventories help Kohl's, Nordstrom top profit estimates

By
Reuters
Published
Feb 24, 2017

Department store operators Kohl's Corp and Nordstrom Inc followed larger rival Macy's Inc in reporting a better-than-expected profit for the holiday quarter as lower inventories helped the retailers avoid deep discounting.

Kohl's and Nordstrom entered the holiday season with lower inventories and held on to margins as they did not have to resort to deep discounts to get rid of unsold holiday stock as in previous years.




Inventories per store were down about 5 percent at the end of the fourth quarter, Kohl's said. They had been up 5.7 percent in the year-earlier period.

The average transaction value at Kohl's stores was up 3.8 percent in the quarter ended Jan. 28, even though the number of transactions per store declined 6 percent.

"We've really dramatically reduced inventories this year so our clearance levels and fall transitional inventories are way down compared to last year," Kohl's Chief Executive Kevin Mansell said on a conference call.

Nordstrom's gross margin rose 1.1 percentage points to 36 percent in the fourth quarter due to lower inventories and fewer discounts, the company said.

Excluding items, the company earned $1.27 per share, beating the average analysts' estimate of $1.15, according to Thomson Reuters I/B/E/S.

Nordstrom's inventory was down 2.5 percent at the end of the quarter.

SALES UNDER PRESSURE

Kohl's said it expected the sale of sportswear maker Under Armour Inc's (UAA.N) products in its stores to help boost full-year comparable sales by as much as 1 percentage point.

Still, the company forecast comparable sales to be flat to down 2 percent and net sales to range between a 0.7 percent increase and a 1.3 percent drop.

Macy's, which reported a higher-than-expected quarterly profit on Tuesday, had said it would post another year of sales declines.

In contrast, Nordstrom forecast a 3-4 percent rise in full-year sales.

Kohl's net income fell about 15 percent to $252 million, or $1.44 per share, from a year earlier, beating the average analysts' estimate of $1.33 per share.

Net sales dropped 2.8 percent to $6.21 billion, falling for the fourth straight quarter and missing estimates of $6.22 billion.

Kohl's shares were up about 1 percent at $41.25 in extended trading on Thursday, while Nordstrom's shares were up 2.4 percent at $45.

 

© Thomson Reuters 2024 All rights reserved.