Nordstrom Reports Holiday Sales
Combined November and December sales were in-line with Company expectations for a decrease in the low-twenties percentage range for the fourth quarter. Sales trends increased sequentially by approximately 500 basis points relative to the third quarter, after adjusting for the shift of the
During the holiday season,
- December sales across the
Nordstromand NordstromRack brands reflected sequential improvement from November with momentum continuing into January.
- Digital sales grew 23 percent over last year and represented 54 percent of total sales compared with 34 percent from the same period in fiscal 2019.
- Approximately 11 percent of Nordstrom.com orders were picked up in-store, which accelerated to more than 20 percent during the week preceding Christmas.
- Approximately 9 percent of Nordstromrack.com orders were picked up in-store, which was enabled by the integration of
NordstromRack store and online inventory in October.
- More than 30 percent of online orders were fulfilled from
Nordstromand NordstromRack stores.
- As a result of expanded gifting selection, gifting items made up 67 percent of sales, an increase of 600 basis points from the prior year.
"We're encouraged by the increasing momentum throughout and following the holiday season as we continue to unlock new ways to better serve customers on their terms with greater convenience and connection. By leveraging order pickup and store fulfillment capabilities across our two brands of
As a result of its holiday performance, the Company continues to expect to deliver positive earnings before interest and taxes (EBIT) and operating cash flow for the fourth quarter. In addition, the Company expects fourth quarter EBIT margin to deleverage by approximately 500 basis points relative to the prior year primarily due to lower sales volume. Planned shipping surcharges and premium pay related to the holiday season also contributed to the year-over-year EBIT margin deleverage.
The Company is scheduled to hold its virtual investor event on
Certain statements in this news release contain or may suggest "forward-looking" information (as defined in the Private Securities Litigation Reform Act of 1995) that involve risks and uncertainties. The words "will," "may," "designed to," "outlook," "believes," "should," "targets," "anticipates," "assumptions," "plans," "expects," or "expectations," "intends," "estimates," "forecasts," "guidance" and similar expressions identify certain of these forward-looking statements. The Company also may provide forward-looking statements in oral statements or other written materials released to the public. All statements contained or incorporated in this news release or in any other public statements that address such future events or expectations are forward-looking statements. Important factors that could cause actual results to differ materially from these forward-looking statements are discussed in the Company's Annual Report on Form 10-K for the fiscal year ended February 1, 2020 and its Form 10-Qs for the fiscal quarters ended
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