Gordmans Projects Up Sales, Down Earnings for Third Quarter

OMAHA, Neb.-Department-store retailer Gordmans said it expects sales for its fiscal third quarter, ending on Oct. 27, to finish at between $142 million and $144 million, an increase of from 7.9 to 9.4 percent.

At the same time, the retailer said earnings per share are now projected to fall from 23.1 to 30.8 percent, to between 18 and 20 cents. Gordmans said it based these predictions on a 2.1 percent decrease in same-store sales for the quarter through Sept. 29.

Jeff Gordman, president and CEO, said the retailer's same-store sales have been trending downward since Labor Day. "However, we remain confident in our overall strategy and that our merchandising, marketing and store-operations initiatives will produce improved sales performance in the fourth quarter and beyond," Gordman said.

Gordmans also revised its fourth-quarter outlook to reflect reduced sales performance. For the quarter, which will end on Feb. 2, 2013, sales are expected to total from $213 million to $215 million up from 15.1 to 16.2 percent. Earnings per share should reach between 58 cents and 61 cents, up from 9.4 to 15.1 percent from the fourth quarter of last year.

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.

Videos

  • Von Tobel Cites Brass Textures Among Top Trends

    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 cover for September 2017

    HFN's DIGITAL EDITION

    September 2017


    COVER STORY:

    2017 State of the Industry Report
    Cautious Optimism, Mixed Results

    Many expected 2016 would be a banner year, but the political and economic climate softened consumer confidence. It was also a year consumers spent more lavishly on home remodeling rather than decorating.


    ALSO IN THIS ISSUE:

    •  TJX Unveils First U.S. Homesense Store - In a time when retailers are reducing store counts, TJX continues to get physical.
    •   Ikea’s Fluid Spaces - The retailer’s new intros reflect multifunctional rooms.
    •  N.Y. Home Fashions Market Preview - Textile textures get soft and cozy, colors warmer.