Businessweek

Nordstrom Inc. plans to open 14 more Racks stores over the balance of 2013 and have over 230 Rack stores by the end of 2016. The company announced that the Topshop merchandise has performed well online and in the 14 stores where the company currently carry it. Based on its success, the company plans to expand its distribution to additional stores in the fall.

Nordstrom Inc. reported unaudited consolidated financial results for the first quarter ended May 4, 2013. The company reported earnings per diluted share of $0.73 for the first quarter ended May 4, 2013, representing a 4.3% increase from $0.70 for the same quarter last year. Net earnings were $145 million compared with $149 million for the same quarter last year. Total company reported net sales of $2.7 billion for the first quarter increased 4.8% compared with net sales of $2.5 billion during the same period in fiscal 2012. Total company's same-store sales increased 2.7% compared with the same period in fiscal 2012, on top of last year's same-store sales increase of 8.5%. Earnings before interest and income taxes was $275,000 against $280,000 for the same period of last year. Earnings before income taxes was $236,000 against $240,000 for the same period of last year. Net cash provided by operating activities was $161,000 against $159,000 for the same period of last year. Capital expenditures were $149,000 against $98,000 for the same period of last year. The company continues to expect annual earnings per diluted share consistent with the previous outlook of $3.65 to $3.80. This reflects full-year same-store sales increases of 3% to 5% and incorporates the performance of the first quarter. It also includes the impact of share repurchases in the first quarter, which is expected to increase earnings per diluted share by approximately $0.05. Effective tax rate expected to be unchanged from previous outlook of 39%. Total sales are expected to 4% to 6% against prior outlook of 4.5% to 6.5% increase.

Nordstrom Inc. announced that its board of directors approved a quarterly dividend of 30 cents per share payable on June 17, 2013 to shareholders of record at the close of business on May 31, 2013.

Nordstrom Inc. - Shareholder/Analyst Call

Nordstrom Inc., Q1 2013 Earnings Call, May 16, 2013