×
653
Fashion Jobs
COLUMBIA SPORTSWEAR COMPANY
Assistant Merchandising Manager
Permanent · BENGALURU
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Firozabad
Permanent · Firozabad
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Phagwara
Permanent · Phagwara
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Karnal
Permanent · Karnal
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Belagavi
Permanent · Belagavi
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Baddi
Permanent · Baddi
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Moradabad
Permanent · Moradabad
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Idukki
Permanent · Idukki Township
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Garhmukteshwar
Permanent · Garh Mukteshwar
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Ranikhet
Permanent · Ranikhet
TRIANGLE WEAVERS
Production Manager
Permanent · Cherthala
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Kasauli
Permanent · Kasauli
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Calicut
Permanent · Kozhikode
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Balrampur
Permanent · Balrampur
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Nahan
Permanent · Nahan
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Kanchipuram
Permanent · Kanchipuram
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Rishikesh
Permanent · Rishikesh
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Chennai
Permanent · Chennai
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Bareilly
Permanent · Bareilly
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Nainital
Permanent · Nainital
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Kanyakumari
Permanent · Kanyakumari
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Ghaziabad
Permanent · Ghaziabad
By
Reuters
Published
Feb 24, 2017
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

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 2022 All rights reserved.