Nordstrom, Inc. released Q2 2021 earnings, which reflected continued broad-based improvement in sales trends at Nordstrom and Nordstrom Rack across categories and geographies. The company reported net earnings of $80 million or $0.49 per diluted share. For the second quarter ended July 31, 2021, net sales increased 101% year-over-year, representing a sequential improvement of approximately 700 basis points relative to the first quarter of fiscal 2021.
Traffic and sales trends were strong across both digital and stores as customers responded positively to expanded selection, better in-stock rates on top-selling items and enhanced pick-up options at stores. Nordstrom’s Anniversary event sales were a big contributor to the company’s success during the quarter.
“Our second quarter results demonstrate the strength of our two brands, the power of our ‘closer to you’ strategy and the success of our iconic Anniversary Sale. We capitalized on improving customer demand with focused execution, healthy inventory sell-through and continued expense management to deliver strong quarterly results. We remain focused on executing our strategy to win in our most important markets, broaden the reach of Nordstrom Rack and increase our digital velocity, and are well-positioned for continued progress toward our long-term strategic and financial goals as we look ahead to the second half of the year,” said Erik Nordstrom, Chief Executive Officer at Nordstrom, Inc.
Source: Nordstrom Press Release
Photo Credit: Flickr
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About Nordstrom, Inc.
At Nordstrom, Inc. (NYSE: JWN), we exist to help our customers feel good and look their best. Since starting as a shoe store in 1901, how to best serve customers has been at the center of every decision we make. This heritage of service is the foundation we’re building on as we provide convenience and true connection for our customers. Our digital-first platform enables us to serve customers when, where and how they want to shop – whether that’s in-store at more than 350 Nordstrom, Nordstrom Local and Nordstrom Rack locations or digitally through our Nordstrom and Rack apps and websites. Through it all, we remain committed to leaving the world better than we found it.
