Gordmans Net Falls 15.9 Percent in Q3

OMAHA, Neb.-Increases in expenses offset a fairly healthy sales gain to drive down net income by 15.9 percent for Gordmans in its fiscal third quarter, to $4 million.

The retailer's selling, general and administrative expenses jumped 12.3 percent in dollars and 130 basis points as a percentage of sales, to 40.4 percent. In addition, an 8.8 percent pickup in cost of goods sold slimmed gross margin by eight basis points, to 44.9 percent.

Net sales in the quarter, which ended on Oct. 27, rose 8.7 percent to finish at $143.1 million. Much of this gain resulted from the opening of new Gordmans locations in the quarter, in new markets for the company such as Salt Lake City, Ogden, Utah, Boise, Idaho and Indianapolis, and in existing markets such as Denver and Minneapolis. Same-store sales in the quarter fell 1.4 percent.

Looking ahead to the fourth quarter, Gordmans has projected sales to total between $213 million and $215 million, with same-store sales roughly flat with last year's fourth quarter. For the fiscal year, sales are expected to finish between $618 million and $620 million.

HFN Staff | News & Commentary

HFN provides detailed information on the key home classifications: Housewares, Tabletop, Floor Covering & Rugs, Furniture, Home Textiles, Lighting, Home Decor, Mattresses & Bedding, Gifts, Major Appliances and Consumer Electronics as well as Business, Finance and Retail.


  • Patti Carpenter Talks Color and its Importance in the Home

    Camera Icon   More Videos

Subscribe to
HFN Omnichannel
Receive the news you need to know about the trends in the industry delivered right to your inbox.

Current Issue

  • HFN August 2017 cover


    August 2017

    COVER STORY: Sharpening the Focus on Millennials

    Find out what makes Millennials tick when it comes to home decorating, shopping and at-home entertaining with HFN's annual consumer study. Turns out, Millennials favor the in-store shopping experience.


    • Power of the People - Crowdfunding campaigns provide needed capital, feedback for home and housewares product launches.
    •  Omnichannel Retailing: Visual Search Takes Off - Learn how voice and visual search are revolutionizing product discovery.