Gordmans Pushes Fourth-Quarter Net Up 36 Percent

OMAHA, Neb.-A strong increase in same-store sales and improved gross margin helped Gordmans to a 36 percent rise in net income in its fiscal fourth quarter, to $8.4 million.

The six percent gain in comparable-stores sales was part of an overall 9.3 percent pickup in net sales to $168.4 million. Gross margin in the quarter, which ended on Jan. 29, rose 83 basis points to 39.8 percent. Along with citing both the same-store sales and margin growth, Jeff Gordman, president and CEO, noted that Gordmans' fourth quarter was driven by progress the retailer has made on merchandising, marketing and inventory-management initiatives.

Gordmans also kept expenses in check in the quarter. Selling, general and administrative expenses increased 6.5 percent in dollars but fell 85 basis points as a percentage of sales, to 31.7 percent.

For its fiscal year, Gordmans reported a 1.7 percent drop in net income to $15.6 million, and a 13 percent increase in net sales to $517 million. Comparable-store sales rose 8.4 percent during the 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.