Gordmans 2Q Net Up 21 Percent

OMAHA, Neb.-Rising sales and margins boosted Gordmans' second-quarter net income by 20.7 percent, to $3.5 million.

Net sales in the quarter, which ended on July 28, finished at $128.2 million, up 9.6 percent in total and including a 0.1 percent pickup in same-store sales. Gross margin was 45.8 percent, an increase of 92 basis points over the second quarter of last year. Jeff Gordman, the retailer's president and CEO, cited the gross-margin improvement as key to Gordmans' healthier bottom line in the quarter.

Selling, general and administrative expenses gained 11.2 percent in dollars and 60 basis points as a percentage of sales, to 41.2 percent.

For the remainder of the fiscal year, Gordmans said it expects same-store sales to rise in the low single digits. Net sales are projected to reach between $624 million and $628 million for the year as a whole.

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

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 May digital issue

    HFN's DIGITAL EDITION

    May 2017


    COVER STORY: HFN Turns 90

    We commemorate HFN's 90th anniversary by paying tribute to the iconic retailer and supplier brands--and the people--that have helped the industry flourish, then and now.


    ALSO IN THIS ISSUE:

    • Up & Coming Leaders - The home industry is in capable and visionary hands as this year’s 40 Under 40 list attests. Today’s young leaders span all disciplines and varied levels of operation.
    • Omnichannel Retailing - In the Mobile App World, Time is Money