Gordmans Profit Dives 72.5 Percent in Q3

GordmansOMAHA, Neb.-Jumps in expenses slashed into Gordmans' bottom line in its fiscal third quarter, to the tune of a 72.5 percent decrease to $1.1 million.

Selling, general and administrative expenses were up 11.8 percent in dollars and 229 basis points as a percentage of sales, to 42.7 percent. Gross margin was down 62 basis points to 44.3 percent. Interest expense skyrocketed by 656 percent, the result of additional interest associated with the retailer's term loan, entered into in August to fund a special cash dividend paid out in September.

All of these items easily offset a gain of 5.8 percent in net sales, which totaled $151.3 million. This included a drop of 6.1 percent in same-store sales.

For the fourth quarter, Gordmans said it is projecting a mid-single-digit decline in same-store sales. The company also said it expects continued pressure on gross margin and increased SG&A related to depreciation.

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.