Nordstrom Rack, looking to advance it’s Closer to You strategy, is adding three new merchandising and supply chain executives after its parent company closed out a strong fourth quarter.
Nordstrom promoted Kelley Wotton-Gantner to vice president, DMM of Nordstrom Rack. She was senior director, merchandising with a focus on the price-conscious consumer. Prior to joining Nordstrom, Wotton-Gantner held leadership roles at a variety of off-price retailers including Macy’s Backstage, Beall’s Inc., TJX Cos. and Bob’s Stores.
Nordstrom named Stacy Lippa vice president, Rack supply chain. She will work across the organization to drive store growth by aligning stakeholders and resources to support Rack supply chain operations. Lippa led the distribution and fulfillment networks at Five Below, after spending 17 years at Target in various leadership roles across imports, transportation, replenishment, distribution and food supply chains.
“Nancy, Kelley and Stacy each bring extensive off-price retail experience to important areas of our Rack business, and we’re thrilled to welcome them to the team,” said Geevy Thomas, president, Nordstrom Rack. “Their collective expertise in driving off-price growth and transformation will help us drive continued improvement, achieve our goals and deliver the best possible experience for our customers from product selection through delivery.”
Nordstrom recently announced fourth quarter sales of $4.38 billion versus $3.55 billion for the period a year earlier as net earnings gained to $200 million, or $1.23 per diluted share, from 33 million, or 21 cents per diluted share. For the full year, sales were $14.4 billion versus $10.36 billion in the annum earlier while net earnings recovered to $178 million, or $1.10 per diluted share, from a loss of $690 million, or $4.39 per diluted share, in a COVID-19 hit 2020.
Fourth quarter earnings per share topped a MarketBeat-published analyst consensus estimate by 18 cents, and revenues slightly surpassed the estimate as well. Nordstrom net earnings for the fiscal year included a $65 million after tax, or 40 cents per diluted share, debt refinancing charge in the first quarter.
