The e-retailer reports a $126 million net loss, stemming from a $640 million year-over-year increase in spending in the quarter on technology and content ...
A big uptick in fourth quarter web sales helped Nordstrom finish 2009 with solid growth online. Web sales for Q4 and 2009 increased 32.1% and 14.3%, respectively.
Based on calculations by Internet Retailer, a big uptick in fourth quarter web sales helped Nordstrom Inc. finish 2009 with solid growth online.
For the year ended Jan. 30, 2009, Nordstrom, No. 32 in the Internet Retailer Top 500 Guide achieved:
- A web sales increase of 14.3% to $784.1 million from $686.2 million in 2008. Internet Retailer also calculates that e-commerce revenue increased 32.1% to $270.0 million in the final quarter of the year from $204.4 million in the fourth quarter of 2008.
- Based on an Internet Retailer analysis of Nordstrom’s 2009 and 2008 year-end financial reports, the web accounted for 9.5% of total sales compared with 8.3% in the prior year.
In its year-end earnings release, Nordstrom also reported:
- Total sales declined 0.2% to $8.258 billion from $8.272 billion. In the fourth quarter total sales increased 10.3% to $2.539 billion from $2.301 billion.
- Full-year net earnings increased 10.0% to $441.0 million from $401.0 million in 2008. Net earnings in the fourth quarter increased 152.9% to $172.0 million from $68.0 million in the final quarter of 2008.
- Comparable-store sales in the fourth quarter increased 3.9%, but decreased 4.2% for the full year.
“In fall of last year, we launched a new inventory platform that dramatically improved our ability to help more customers,” Nordstrom president Blake Nordstrom told Wall Street analysts on the company’s year-end earnings call. “We now have the ability to truly share inventory between all of our stores and Nordstrom.com. We can fulfill online orders from a Nordstrom store anywhere.”