Nordstrom's Full Closet Makes the Retailer a Fashionable Investment
Nordstrom had a rather patchy record during 2013 and seemed to sit on the sidelines while many of its retail counterparts roared. Nordstrom's shares managed to gain just 13% during the year, which, for investors, was as disappointing as coming home with empty bags after a shopping spree.
Total company net-sales growth was OK, but nothing to write home about -- the haute couture retailer only managed 4.7% overall sales growth for the year. Earnings for the year (excluding fourth-quarter earnings) also grew modestly by 8.3% to $2.35 per share.
Its luxury-goods peers recorded mixed results, with Michael Kors gaining 55% during the year, but Coach tanking 3.5%.