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Family-Adult Clothing Formats
Nordstrom, Hollister and American Eagle Outfitters
La Jolla, $80
AE lightweight fleece, $29.50
NORDSTROM, INC. FY 2010 FY 2009
$ 000,000s $ 000,000sNet sales 9,310 8,258 Nordstrom full-line 6,995 6,360 Nordstrom Rack & other 1,720 1,440 Direct 705 563Gross profit 3,413 36.7% 2,930 35.5%Net Income (after tax) 613 6.6% 441 5.3%GMROI 3.49 349% 3.26 326%Inventory turnover 6.04 5.93Total assets 7,462 6,579Asset turnover 1.25 1.26Return on assets 8.2% 6.7%Leverage 3.69 4.19Return on net worth 30.3% 28.1%
FY 2010 FY 2009 FY 2008$ 000s $ 000s $ 000s
Net sales 12,345,678 11,335,577 10,203,040
Cost of goods sold1 9,012,345 7,890,123 7,071,727
Gross margin 0.0% 3,445,454 30.4% 3,131,313 30.7%
General selling & admin. 2,345,678 1,918,171 1,718,191
E.B.I.T. 1,527,283 1,413,122
Interest expenses 321,098 282,930 242,526Taxes, misc. 234,567 171,819 151,617Net Income (after tax) 0.0% 1,072,534 9.5% 1,018,979 10.0%
Inventory 2,345,678 2,021,222 1,918,171
GMROI 0% 1.70 170% 1.63 163%
Inventory turnover 3.90 3.69
Total assets 8,901,234 7,879,808 6,665,646
Asset turnover 1.44 1.53Return on assets 0.0% 13.6% 15.3%
Accounts payable 789,012 678,901 567,890Days payable 32 31 29
Total liabilities 4,567,890 3,839,404 3,435,363Leverage 1.95 2.06
Owners' equity, net worth 4,333,344 4,040,404 3,230,283Return on net worth 0.0% 26.5% 31.5%
NORDSTROM, INC.
FY 2010 FY 2009 Nordstrom full-line 115 112
Sales per store ($000s) $60,826 $56,786
Nordstrom Rack & other 89 72
Sales per store ($000s) $19,326 $20,000
Square feet of retail area 23,838,000 22,773,000
Sales per square foot $390.55 $362.62
Gross margin per sq foot $143.17 $128.66
Inventory per square foot $40.98 $39.43
Employees 52,000 48,000
Sales per employee $179,038 $172,042
2008 2007
$ 000s $ 000s
Net sales 3,540,276 3,749,847
Gross margin 2,361,692 66.7% 2,511,367 67.0%
Net Income (after tax) 272,255 7.7% 476,057 12.7%
GMROI 6.34 634% 7.54 754%
Inventory turnover 3.16 3.72
Asset turnover 1.24 1.46
Return on assets 9.6% 18.5%
Return on net worth 14.8% 29.4%
ABERCROMBIE & FITCH CO.
American Eagle Outfitters, Inc.
2008 2007$ 000s $ 000s
Net sales 2,988,866 3,055,419
Gross profit 1,174,101 39.3% 1,423,138 46.6%Operating Income 302,140 598,755Net Income (after tax) 179,061 6.0% 400,019 13.1%
GMROI 3.98 398% 4.97 497%Inventory turnover 6.15 5.70Asset turnover 1.52 1.64Return on assets 9.1% 21.4%Leverage 1.39 1.39Return on net worth 12.7% 29.8%
Nordstrom Rack2010 2009
Sales per store $19,326,000 $20,000,00
Women’s apparel, 34%
Women’s/Rack $6,184,000 $6,800,000
Women’s apparel 34% Shoes 23% Men’s apparel 15%
Women’s accessories 12% Cosmetics 10% Children’s apparel 3% Other 3% Total 100%
ABERCROMBIE & FITCH CO.
2008 2007
Number of stores 1,125 1,035
Sales per store 3,147 3,623
Square feet of retail area 8,022,000 7,337,000
Sales per square foot $441.32 $511.09
Gross margin per sq foot $294.40 $342.29
Inventory per square foot $46.43 $45.41
Number of associates 96,200 94,600
Sales per associate 36,801 39,639
Net retail sales per average store (thousands) $ 3,018 $ 3,470
Abercrombie & Fitch $ 3,878 $ 4,073
abercrombie $ 1,823 $ 2,230
Hollister $ 2,962 $ 3,550
RUEHL $ 2,039 $ 2,602
American Eagle Outfitters, Inc.
2008 2007
Number of stores 1,098 987
Sales per store 2,722 3,096
Square feet of retail area 6,328,167 5,709,932
Sales per square foot $472.31 $535.11
Gross margin per sq foot $185.54 $249.24
Inventory per square foot $46.61 $50.17
Number of associates 37,500 38,700
Sales per associate 79,703 78,951
Finalist Markets, No Nordstrom’s
Geographic Area Name N452111 S452111Sales per
store Nordstrom N44814 S44814Sales per
store
McAllen-Edinburg-Mission, TX MSA 5 235,030 47,006 0 77 335,221 4,354
Springfield, MO MSA 4 137,750 34,438 0 26 67,334 2,590
Atlantic City, NJ MSA 5 168,740 33,748 0 52 121,879 2,344
Corpus Christi, TX MSA 4 124,728 31,182 0 32 88,937 2,779
New Orleans-Metairie-Kenner, LA MSA 12 355,452 29,621 0 118 317,852 2,694
Baton Rouge, LA MSA 8 218,373 27,297 0 84 177,071 2,108
Lancaster, PA MSA 4 107,891 26,973 0 45 111,270 2,473
Milwaukee-Waukesha-West Allis, WI MSA 13 347,172 26,706 0 85 234,533 2,759
Wichita, KS MSA 6 155,573 25,929 0 49 129,298 2,639
Lubbock, TX MSA 4 101,683 25,421 0 33 83,100 2,518
Mobile, AL MSA 5 123,700 24,740 0 34 74,604 2,194
Winston-Salem, NC MSA 5 121,349 24,270 0 41 100,193 2,444
Louisville-Jefferson County, KY-IN MSA 12 289,782 24,149 0 74 184,607 2,495
New Haven-Milford, CT MSA 10 236,799 23,680 0 77 259,519 3,370
Tulsa, OK MSA 9 212,431 23,603 0 71 192,121 2,706
El Paso, TX MSA 12 272,702 22,725 0 93 230,302 2,476
Spectra Results: NordstromAdults in HouseholdsMinimum Mean Maximum
2 mile radius 12,830 42,392 77,612
4 mile radius 66,820 154, 071 229,215
6 mile radius 102,890 306, 009 480,841
Hollister Markets Examined Current stores
Households: Householder 35 to 54 years; $75,000+/store
Households: Total
Family clothing stores
Family clothing stores sales
Sales per store
San Francisco, CA PMSA; 4 37,152 684,805 208 938,063 4,510
San Jose, CA PMSA; 3 52,864 566,485 151 627,775 4,157
Bergen--Passaic, NJ PMSA; 3 35,722 494,808 126 503,737 3,998
Sacramento, CA PMSA; 0 - 606,364 155 585,711 3,779
Hartford, CT MSA 2 42,705 457,421 116 429,408 3,702
Middlesex--Somerset--Hunterdon, NJ PMSA; 2 54,341 418,698 76 275,387 3,624
Newark, NJ PMSA; 2 77,904 729,043 164 543,230 3,312
Monmouth--Ocean, NJ PMSA; 2 43,963 425,000 121 350,380 2,896
Providence--Fall River--Warwick, RI--MA MSA 1 60,822 462,080 154 442,334 2,872
Potential AE MSAs STORES IN CHAIN
Households: Householder 35 to
54 years
Households: Householder 35 to 54 years; $75,000+
Clothing stores 4481
SalesSales per
store
Clothing & clothing accesorites stores 448 Sales
Sales per store
Pine Bluff, AR MSA 0 12,298 2,232 23 26,421 1,149 45 48,136 1,070
Kankakee, IL PMSA; 0 15,828 4,271 25 35,512 1,420 42 44,514 1,060
Elmira, NY MSA 0 14,987 2,930 34 39,517 1,162 59 56,667 960
Lewiston--Auburn, ME MSA 0 15,529 2,916 32 25,001 781
Sumter, SC MSA 0 16,145 2,584 34 21,642 637 57 40,634 713
Corvallis, OR MSA 0 12,239 4,414 27 17,623 653
Enid, OK MSA 0 9,208 1,479 33 21,013 637
Great Falls, MT MSA 0 13,360 2,110 20 16,106 805 42 26,569 633
Sheboygan, WI MSA 0 18,951 5,370 38 21,664 570
California Location Requirements: Hollister
Criteria• Typical leased site
• Minimum household count• Highest Demographic
indices– Household income level – Age– Children– Education attainment
Findings• Enclosed shopping mall
(Google Earth)• 5 mile radius: 140,000• Higher income, maturing
families– $100,000+– 35-44– <6 & 6-17– College graduate
Geography AEHouseholds:
Householder 35 to 54 years
Households: Householder 35 to 54 years; $75,000+
Bangor, ME MSA 1 15,952 3,930
Owensboro, KY MSA 1 15,037 3,289
Pittsfield, MA MSA 1 14,656 3,667
Rapid City, SD MSA 1 15,129 3,168
Dubuque, IA MSA 1 14,085 3,164
Jonesboro, AR MSA 1 12,480 2,467
Cheyenne, WY MSA 1 13,651 3,179
Victoria, TX MSA 1 13,067 3,434
Pocatello, ID MSA 1 11,002 2,687
Casper, WY MSA 1 11,945 2,584
American Eagle’s Smallest MSAs
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