Yesterday, Jessica Alba hits 1,000,000 followers.
Alba twitted that she is addicted to twitter and is thankful to her husband Josh Warren for introducing her to it.
(Josh, we are thankful to you too.)
Apparently, it is her “fav social networking platform”. Congratulations to the actress on her million followers day!
Don’t forget to follow us on Twitter @modamee
NORDSTROM SHARE PRICE FALLS AFTER DOWNGRADE BY ANALYSTS.
WWD May 17, 1999 | Kletter, Melanie NEW YORK — Shares of Nordstrom tumbled 3 1/8 to 32 7/16 Friday in over-the-counter trading after at least four investment firms downgraded the chain’s stock because of poor first-quarter earnings.
Nordstrom management told analysts during a conference call late Thursday that it might report negative same-store sales in the second quarter, and that the company was working to meet analysts’ estimates for the year. in our site nordstrom coupon code
The company declined to comment on the stock’s performance.
On Friday, some analysts cut their earnings estimates by between 7 and 9 cents to about $1.56 for this year, and by about 15 cents to $1.80 for next year. Nordstrom earned $1.39 last year.
As reported, Nordstrom Thursday reported first-quarter profits slid 2.5 percent to $31.5 million, or 22 cents a share, missing analysts’ average estimate of 24 cents. Same-store sales fell 2.6 percent.
Analysts said Nordstrom’s assortments missed some key trends, such as capri pants, and had too many dresses and too much career merchandise. Women’s apparel suffered in particular, from a lack of color and seasonal basics, they said.
“They were bringing the inventory down and they came down too far,” said Harry Ikenson, at Hambrecht & Quist, who downgraded the stock to “market perform” from “buy.” A Nordstrom spokeswoman said Friday that merchandise was a bit overassorted last quarter, and the store could have gone deeper into capri pants and certain other items.
Nordstrom in the last few years has been decentralizing buying, and now some buyers purchase for up to five times the number of stores, according to the spokeswoman.
“The company is going through an evolutionary process, and there will be bumps along the way,” said Wayne Hood, at Prudential Securities, who cut the stock to “hold” from “strong buy.” Other investment firms downgrading the stock were Goldman Sachs, to “market perform” from “market outperform,” and Donaldson, Lufkin & Jenrette, to “market perform” from “buy.” In a further reorganization, Nordstrom said Friday it was changing the reporting structure of full-line store operating units for greater central control. The four full-line store operations — East Coast, Central States, Northwest and Southwest — will be supervised by an umbrella team headed by Mary Wickstrom. Divisional managers from the store groups will report to Wikstrom, who formerly headed the East Coast group of stores. Previously, each regional store organization made decisions independently. Now key decisions will be made by one central leadership team for more consistency, according to the spokeswoman. this web site nordstrom coupon code
Bill Nordstrom, co-president of the company, who was in charge of finance and strategy, will move east shortly to head the East Coast division. He will report to Wickstrom, the spokeswoman said.
The operations of the Faconnable private label business are being merged into the Nordstrom Product Group.
The retailer’s three business units, Nordstrom Rack, Direct Sales and Credit, continue to operate unchanged.
The Nordstrom spokeswoman said no layoffs were announced.
This new plan is designed to strengthen reorganization moves Nordstrom made last year, with a clearer and more accountable management structure, the Nordstrom spokeswoman said.
Shari Schwartzman Eberts, at J.P. Morgan, said, “Since many of Nordstrom’s execution problems stem from the fact that they are changing so many things at once, we were surprised that management announced an additional reorganization.” Kletter, Melanie