Yahoo Finance Kim Kardashian shapewear line Skims gives Nordstrom a much-needed lift
Kim Kardashian is helping shape bottoms...and bottom lines.
Luxury department store Nordstrom told analysts on a Tuesday earnings call the company’s exclusive tie-up with Kardashian’s new Skims shapewear line is off to a resounding start. “We had over 2 billion [media impressions], I think actually it was. So, it was really remarkable. We sold a ton in that store [the new New York City flagship],” said Nordstrom President and Chief brand officer Pete Nordstrom. “But it also really helped [as] kind of a lift around the company. And again, it improves our opportunity to collaborate with our core strategic brands to bring in launches and do new, exciting things.”
Talk about the power of someone — Kardashian — with 161 million Instagram followers to sell clothing.
The Skims line debuted at 25 Nordstrom stores in the U.S. on Feb. 5 following its launch online in September. Skims specializes in figure-forming shapewear and bodysuits for women. Think Spanks for the next generation of shoppers and social media influencers.
"It is such a natural choice for me to want to choose Nordstrom as my first retail partner for Skims," Kardashian said in a video post at the time.
Nordstrom better get some more Skims in stock as investors weren’t too pleased with its light fourth quarter earnings report. The problem: profits weren’t plump enough.
Shares of Nordstrom plunged about 9% in pre-market trading on Wednesday as earnings fell short of analyst forecasts by 5 cents. Net sales came in at $4.54 billion versus forecasts for $4.56 billion. Full year 2020 earnings are seen in a range of $3.25 to $3.50. Analysts had expected $3.49 a share.
Brian Sozzi is an editor-at-large and co-anchor of The First Trade at Yahoo Finance. Follow Sozzi on Twitter @BrianSozzi and on LinkedIn.
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