1. Based on the information in the company's most recent annual report, determine each of the following:...
Question:
1. Based on the information in the company's most recent annual report, determine each of the following:
a. Gross profit for each year reported.
b. Gross profit rate (Gross profit / Sales) for each year reported. Round to one decimal place.
c. Operating income for each year reported.
d. Percentage change in operating income for the most recent year. Round to one decimal place.
e. Net income for each year reported.
f. Percentage change in net income for the most recent year. Round to one decimal place.
2. Based solely on your responses to Item 1, has the company's performance improved, remained constant, or deteriorated over the periods presented? Briefly explain your answer.
Item 6. Selected Financial Data. (Dollars in millions except per square foot and per share amounts) The following selected financial data are derived from the audited Consolidated Financial Statements and should be read in conjunction with Item 1A: Risk Factors, Item 7: Management's Discussion and Analysis of Financial Condition and Results of Operations and Item 8: Financial Statements and Supplementary Data of this Annual Report on Form 10-K. 2016 Fiscal year Earnings Results 2018 2017 2015 2014 Net sales $15,480 $15,137 $14,498 $14,095 $13,110 Credit card revenues, net' 380 341 259 342 396 Gross profit 5,325 5,247 5,058 4,927 4,704 (3,777) 1,323 Selling, general and administrative ("SG&A") expenses? (4,868) (4,662) (4,315) (4,168) Earnings before interest and income taxes ("EBIT") 837 926 805 1,101 Net earnings 564 437 354 600 720 Balance Sheet and Cash Flow Data Cash and cash equivalents $957 $1,181 $1,007 $595 $827 Merchandise inventories 1,978 2,027 1,896 1,945 1,733 3,735 3,340 Land, property and equipment, net Total assets Total long-term debt Net cash provided by operating activities Capital expenditures 3,921 3,939 3,897 7,886 8,115 7,858 7,698 9,245 2,685 2,737 2,774 2,805 3,131 1,296 1,400 1,658 2,470 1,243 654 731 846 1,082 861 Performance Metrics Net sales increase 2.3% 4.4% 2.9% 7.5% 7.8% Comparable sales increase (decrease) Digital sales as % of net sales Gross profit % of net sales 1.7% 0.8% (0.4%) 2.7% 4.0% 30.0% 27.0% 24.0% 21.0% 18.0% 34.4% 34.7% 34.9% 35.0% 35.9% SG&A % of net sales? 31.5% 30.8% 29.8% 29.6% 28.8% EBIT % of net sales 5.4% 6.1% 5.6% 7.8% 10.1% Capital expenditures % of net sales 4.2% 4.8% 5.8% 7.7% 6.6% Return on assets 6.8% 5.4% 4.5% 6.6% 8.1% Adjusted return on invested capital ("Adjusted ROIC")S 12.0% 9.7% 8.4% 10.7% 12.6% Inventory turnover rate 4.70 4.67 4.53 4.54 4.67 Per Share Information Earnings per diluted share26 $3.32 $2.59 $2.02 $3.15 $3.72 Dividends declared per share! 1.48 1.48 1.48 6.33 1.32 1 Amounts were impacled by the October 1, 2015, credit card receivable transaction. As a result of the transaction, the dividends paid in 2015 included a special cash dividend of $4.85 per share. For further informatian regarding these impacts, see Note 3: Credit Card Receivable Transaction and Note 12: Shareholders' Equity in Item 8. Results for 2018 include the Estimated Non-recurring Charge of $72, or $0.28 per diluted share, see Note 1: Nature of Operations and Summary of Significant Accounting Policies in Item 8. 3 The 53rd week is not included in comparable sales calculations. For the definition of comparable sales, see Results of Operations in item 7: Management's Discussion and Analysis of Financial Condition and Results of Operations. 4 Digital sales are online sales and digitally assisted store sales which include Buy Online, Pick Up in Store ("BOPUS"), Ship to Store, Reserve Online, Try in Store (Store Reserve) and Style Board, a digital selling tool. 5 See Adjusted ROIC (non-GAAP financial measure) in item 7: Management's Discussion and Analysis of Financial Condition and Results of Operations information and reconciliation to the most directly comparable GAAP financial measure. Earnings per diluted share included the impact of the Trunk Club goodwill impaiment charge of $1.12 per share in 2016. additional Nordstrom, Inc, and subsidiaries 19 Item 6. Selected Financial Data. (Dollars in millions except per square foot and per share amounts) The following selected financial data are derived from the audited Consolidated Financial Statements and should be read in conjunction with Item 1A: Risk Factors, Item 7: Management's Discussion and Analysis of Financial Condition and Results of Operations and Item 8: Financial Statements and Supplementary Data of this Annual Report on Form 10-K. 2016 Fiscal year Earnings Results 2018 2017 2015 2014 Net sales $15,480 $15,137 $14,498 $14,095 $13,110 Credit card revenues, net' 380 341 259 342 396 Gross profit 5,325 5,247 5,058 4,927 4,704 (3,777) 1,323 Selling, general and administrative ("SG&A") expenses? (4,868) (4,662) (4,315) (4,168) Earnings before interest and income taxes ("EBIT") 837 926 805 1,101 Net earnings 564 437 354 600 720 Balance Sheet and Cash Flow Data Cash and cash equivalents $957 $1,181 $1,007 $595 $827 Merchandise inventories 1,978 2,027 1,896 1,945 1,733 3,735 3,340 Land, property and equipment, net Total assets Total long-term debt Net cash provided by operating activities Capital expenditures 3,921 3,939 3,897 7,886 8,115 7,858 7,698 9,245 2,685 2,737 2,774 2,805 3,131 1,296 1,400 1,658 2,470 1,243 654 731 846 1,082 861 Performance Metrics Net sales increase 2.3% 4.4% 2.9% 7.5% 7.8% Comparable sales increase (decrease) Digital sales as % of net sales Gross profit % of net sales 1.7% 0.8% (0.4%) 2.7% 4.0% 30.0% 27.0% 24.0% 21.0% 18.0% 34.4% 34.7% 34.9% 35.0% 35.9% SG&A % of net sales? 31.5% 30.8% 29.8% 29.6% 28.8% EBIT % of net sales 5.4% 6.1% 5.6% 7.8% 10.1% Capital expenditures % of net sales 4.2% 4.8% 5.8% 7.7% 6.6% Return on assets 6.8% 5.4% 4.5% 6.6% 8.1% Adjusted return on invested capital ("Adjusted ROIC")S 12.0% 9.7% 8.4% 10.7% 12.6% Inventory turnover rate 4.70 4.67 4.53 4.54 4.67 Per Share Information Earnings per diluted share26 $3.32 $2.59 $2.02 $3.15 $3.72 Dividends declared per share! 1.48 1.48 1.48 6.33 1.32 1 Amounts were impacled by the October 1, 2015, credit card receivable transaction. As a result of the transaction, the dividends paid in 2015 included a special cash dividend of $4.85 per share. For further informatian regarding these impacts, see Note 3: Credit Card Receivable Transaction and Note 12: Shareholders' Equity in Item 8. Results for 2018 include the Estimated Non-recurring Charge of $72, or $0.28 per diluted share, see Note 1: Nature of Operations and Summary of Significant Accounting Policies in Item 8. 3 The 53rd week is not included in comparable sales calculations. For the definition of comparable sales, see Results of Operations in item 7: Management's Discussion and Analysis of Financial Condition and Results of Operations. 4 Digital sales are online sales and digitally assisted store sales which include Buy Online, Pick Up in Store ("BOPUS"), Ship to Store, Reserve Online, Try in Store (Store Reserve) and Style Board, a digital selling tool. 5 See Adjusted ROIC (non-GAAP financial measure) in item 7: Management's Discussion and Analysis of Financial Condition and Results of Operations information and reconciliation to the most directly comparable GAAP financial measure. Earnings per diluted share included the impact of the Trunk Club goodwill impaiment charge of $1.12 per share in 2016. additional Nordstrom, Inc, and subsidiaries 19
Expert Answer:
Dollar in millions 2019 2018 2017 2016 2015 2014 a Gross profit 5200 532... View the full answer
Accounting Principles Part 3
ISBN: 978-1118306802
6th Canadian edition Volume 1
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Kinnear, Joan E. Barlow
Students also viewed these finance questions
-
Below are excerpts from Notes to consolidated financial statements of four companies reporting movements in provisions. Stora Enso (Finland IFRS Source: Annual report 2011 Production of paper)...
-
Organization We are a general merchandise retailer selling products to our guests through our stores and digital channels. We operate as a single segment that includes all of our continuing...
-
Refer to the Notes to Consolidated Financial Statements for Reitmans (Canada) Limited in Appendix A. Instructions (a) Subsection b) of Note 2, Basis of Presentation, states that the financial...
-
1. Enis falsely accuses Monalisa of stealing from Island Tours, Inc., their employer. Enis's statement is defamatory only if a. a third party hears it. b. Monalisa has not been caught. c. the...
-
The daily demand for pizzas is Qd = 750 - 25P, where P is the price of a pizza. The daily costs for a pizza company initially include $50 in fixed costs (which are avoidable in the long run but sunk...
-
Give the structure of an isomer of the allylic halide reactant in Eq. 17.7 that would react with water in an S N 1 solvolysis reaction to give the same two products. Explain your reasoning....
-
The \(920-\mathrm{mm}\)-diameter, \(1.6-\mathrm{mm}\)-thick spherical pressure vessel in Figure 9.27 is a filament wound quasi-isotropic composite laminate with a single 50-mm-diameter entrance hole....
-
The following accounts appeared in the separate financial statements at the end of 2014 for Pressing Inc. and its wholly-owned subsidiary, Stressing Inc. Stressing was acquired in 2009. Required: 1....
-
Suppose a chair manufacture has the following costs and sales expectations: Total variable costs: $ 1 , 0 0 0 , 0 0 0 Total fixed costs: $ 4 0 0 , 0 0 0 Expected unit sales: 2 0 , 0 0 0 1 . With...
-
Max and Annie are roommates sharing an apartment. Although they know each other well, they have respect for each others privacy. Thus, when Maxs Form 1040 was audited by the IRS, he made no mention...
-
What are m and b in the linear equation 2 + 3x + 5 - 2x = y
-
Fernando's Furniture Inc. sponsors a defined benefit pension plan for its employees. The plan's trustee reports the following information for calendar 2023: Defined benefit obligation, January...
-
Consider the following eight two-dimensional data points: x1(15, 10), 2(3, 10), x3 (15, 12), x4(3, 14), x5 (18, 13), x6 (1,7), 7(10, 1), x8 (10, 30) You are required to use the k-means algorithm to...
-
2. Referring to Table 1 below: Process P1 P2 P3 P4 P5 P6 Table 1 Burst Time 6 3 (b) Shortest Job First (c) Priority Queue (d) Round Robin (Time Quantum is 3) 9 12 3 9 Priority 2 1 3 5 3 4 Show CPU...
-
The recent trend best described by the fundamental values articulated by Reagan is the globalization of trade and information as catalysts to democratic movements the outsourcing of manufacturing and...
-
Locate the index on the favorable and unfavorable environments. Explain the meaning of both concepts. Indicates the first five (5) countries to do business and the last five (5). Identify the two...
-
What are some ways that educators can simultaneously have high expectations of their students and acknowledge their individual needs?
-
The area of a rectangle is 30 cm 2 and its perimeter is 26 cm. Find the length and width of the rectangle.
-
Shoppers Drug Mart Corporation reported the following selected data (in millions): ______________________________2011 2010 Total assets.............................$7,300.3........$7,044.2 Total...
-
When a partnership is formed, one or more of the partners may contribute equipment as part of their initial investment. How is the amount of accumulated depreciation to be recorded on this equipment...
-
Refer to the information presented for Diatessaron Inc. in P17-11A. Additional information: 1. All purchases of inventory are on credit. 2. Accounts payable is used only to record purchases of...
-
Define a 1-pound force in terms of the acceleration it will give to a 1-pound mass. Give a similar definition for a newton in the SI system.
-
Explain the difference between absolute and gage pressures.
-
What is the relationship between density and specific volume?
Study smarter with the SolutionInn App