Despite US retailers struggling to stay in the black in 2016, Nordstrom managed to outperform >>
A rendering of Nordstrom's new CF Sherway Gardens store due to open in 2017
Luxury department store retailer Nordstrom ended fiscal 2016 with record high sales of $14.5bn.
In fiscal 2016, the retailer’s diluted EPS were $2.02, which exceeded expectations.
Nordstrom put the figure down to continued operational efficiencies in inventory and expense execution.
Net sales grew 2.9% and comparable sales remained relatively flat showing a decline of 0.4%.
Overall, highlights for the retailer included online sales representing roughly 25% of its full-price sales, totalling more than $2.5bn.
Nordstrom also expanded further into Canada with two stores opening in autumn 2016 in Toronto, contributing $300m in total sales.
In 2017, a new full-line store is scheduled to open in Toronto at CF Sherway Gardens on 15 September.