Nordstrom (JWN) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended January 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on March 5. On ...

Nordstrom, Inc. (JWN) has been making efforts to drive efficiency and improve customer experience via faster order fulfillment. In addition, its focus on Nordstrom Rack bodes well. The company has been making improvements in the Nordstrom Rack banner, driven by strategic brand penetration increases.In recent developments, management unveiled plans to open a Nordstrom Rack in Manalapan Township, NJ in spring 2025. With a span of 26,000 square feet, this store will be situated in Manalapan Commons, a renowned ...

SEATTLE, Feb. 13, 2024 /PRNewswire/ -- Seattle-based fashion retailer Nordstrom, Inc. (NYSE: JWN) announced plans to open a new Nordstrom Rack in Manalapan Township, New Jersey in spring 2025. "We look forward to being a part of the Manalapan Township community and serving our customers with an amazing offering of great brands at great prices," said Gemma Lionello, President of Nordstrom Rack Stores. "We're excited to grow our footprint in the region and introduce new customers to the Nordstrom experience." ...

SEATTLE, Feb. 6, 2024 /PRNewswire/ -- Seattle-based fashion retailer Nordstrom, Inc. (NYSE: JWN) announced plans to open a new Nordstrom Rack in Geneva, Illinois in spring 2025. "We look forward to being a part of the Geneva community and serving our customers with an amazing offering of great brands at great prices," said Gemma Lionello, President of Nordstrom Rack Stores. "We're excited to grow our footprint in the region and introduce new customers to the Nordstrom experience."   Lionello added that in t ...

Nordstrom, Inc. (JWN) is set to expand its footprint in North Carolina with the opening of Rack stores in Raleigh and Matthews. These additions, scheduled to open in fall 2024 and spring 2025, respectively, are part of the company's strategic growth in the region, offering a blend of quality retail experience and community engagement. Image Source: Zacks Investment Research Detailed Overview of New Store LocationsIn Raleigh, the new store spans 32,000 square feet within the bustling Triangle Town Place. Thi ...

SEATTLE, Jan. 30, 2024 /PRNewswire/ -- Seattle-based fashion retailer Nordstrom, Inc. (NYSE: JWN) announced plans to open two new Nordstrom Rack stores in North Carolina. The new stores will be located in Raleigh and Matthews, which will open in fall 2024 and spring 2025, respectively. "We look forward to being a part of the Raleigh and Matthews communities and serving our customers with an amazing offering of great brands at great prices," said Gemma Lionello, President of Nordstrom Rack Stores. "We're exc ...

SEATTLE, Jan. 25, 2024 /PRNewswire/ -- Seattle-based fashion retailer Nordstrom, Inc. (NYSE: JWN) announced plans to open a new Nordstrom Rack in Fort Myers, Florida in fall 2024. "We look forward to being a part of the Fort Myers community and serving our customers with an amazing offering of great brands at great prices," said Gemma Lionello, President of Nordstrom Rack Stores. "We're excited to grow our footprint in the region and introduce new customers to the Nordstrom experience." Lionello added that ...

This Valentine's Day, a lucky pasta lover will win the customized 'Ring-a-toni' – two interlocking, pasta-inspired rings and grand prize valued at nearly $33KNORTHBROOK, Ill., Jan. 17, 2024 /PRNewswire/ -- Back by popular demand, Barilla's heart-shaped pasta, Barilla Love, will be available to fans both on shelves at select grocery locations and on menus at Nordstrom Restaurant Group locations nationwide. To celebrate its return, Barilla is introducing The Pasta Promise – the commitment of a lifetime to alw ...

SEATTLE, Dec. 21, 2023 /PRNewswire/ -- Seattle-based fashion retailer Nordstrom, Inc. (NYSE: JWN) announced plans to open a new Nordstrom Rack in Houston, Texas in fall 2024. "We look forward to being a part of the Houston community and serving our customers with an amazing offering of great brands at great prices," said Gemma Lionello, President of Nordstrom Rack Stores. "We're excited to grow our footprint in the region and introduce new customers to the Nordstrom experience." Lionello added that in this ...

Financial Performance - Net sales for the quarter ended October 28, 2023, were $3,200 million, a decrease of 6.8% compared to $3,433 million for the same quarter in 2022[24]. - Total revenues for the nine months ended October 28, 2023, were $10,273 million, down 8.3% from $11,211 million for the same period in 2022[24]. - Net earnings for the quarter were $67 million, compared to a net loss of $20 million in the same quarter last year[27]. - Earnings per share (EPS) for the quarter was $0.41, compared to a loss per share of $0.13 in the prior year[24]. - Total net sales for the quarter ended October 28, 2023, were $3.2 billion, a decrease from $3.433 billion in the same quarter of the previous year[71]. - For the third quarter of 2023, the company reported net earnings of $67 million, or $0.41 per diluted share, compared to a loss of $20 million, or $0.13 loss per diluted share, in 2022[97]. - Diluted EPS for the third quarter of 2023 was $0.41, an improvement of $0.54 compared to a loss of $0.13 in the same period of 2022[123]. - Adjusted EPS for the third quarter of 2023 was $0.25, compared to $0.20 in the third quarter of 2022, after excluding adjustments from the wind-down of Canadian operations[97]. Inventory and Supply Chain - Merchandise inventories increased to $2,626 million as of October 28, 2023, from $2,878 million a year earlier, reflecting a decrease of 8.7%[29]. - Ending inventory levels were 9% lower than the third quarter of 2022, contributing to a 180 basis point expansion in gross profit as a rate of sales[101]. - Ending inventory as of October 28, 2023, decreased by 8.8% compared to the same period in 2022, reflecting strong inventory discipline[115]. - The company plans to continue focusing on optimizing its supply chain and managing inventory levels in response to market conditions[39]. - The company achieved a 50 basis point reduction in variable supply chain costs in the third quarter of 2023, following four consecutive quarters of reductions exceeding 100 basis points[102]. Financial Position and Liabilities - Total current liabilities rose to $3,709 million as of October 28, 2023, compared to $3,839 million a year earlier, a decrease of 3.4%[29]. - Cash and cash equivalents decreased to $375 million at the end of the period, down from $687 million at the beginning of the year[33]. - The total shareholders' equity as of October 28, 2023, was $729 million, an increase from $606 million a year earlier[29]. - The company had total short-term borrowing capacity of $800 million under the Revolver as of October 28, 2023, with no borrowings outstanding[142]. - Adjusted debt to EBITDAR is 3.1, with total adjusted debt at $4,496 million as of October 28, 2023[147]. - Net earnings for the four quarters ended October 28, 2023, were $119 million, resulting in a debt to net earnings ratio of 24.0[147]. Wind-Down of Nordstrom Canada - The company incurred $207 million in Canada wind-down costs during the nine months ended October 28, 2023[34]. - For the nine months ended October 28, 2023, Nordstrom recorded a pre-tax loss on Canada write-off of $174 million, including derecognition of Nordstrom Canada's assets and liabilities[59]. - Total pre-tax charges associated with the wind-down of Nordstrom Canada amounted to $284 million, with a gain on Canada write-off of $14 million for the quarter ended October 28, 2023[54]. - The wind-down of Nordstrom Canada has resulted in an estimated fair value of zero for related receivables as of April 29, 2023, with ongoing assessments of claims and recoverability[150]. - Nordstrom established an employee trust and contributed $11 million to fund termination and severance payments for employees of Nordstrom Canada[63]. Operational Highlights - The company opened 19 new stores and relocated one store year-to-date through December 1, 2023, with plans to open 17 more stores beyond 2023[100]. - The company opened 18 Nordstrom Rack stores and relocated one store during the nine months ended October 28, 2023[111]. - Digital sales accounted for 34% of total net sales for the quarter ended October 28, 2023, consistent with the same percentage in the prior year[71]. - Digital sales accounted for 34% of total net sales, with a decrease of 11% in the third quarter of 2023 compared to the same period in 2022[107]. - The retail segment EBIT for the third quarter of 2023 was $149 million, up from $119 million in the same quarter of 2022[92]. Cash Flow and Capital Expenditures - Free Cash Flow for the nine months ended October 28, 2023, was negative $231 million, compared to negative $64 million for the same period in 2022[141]. - Capital expenditures for the nine months ended October 28, 2023, were $375 million, representing 3.8% of net sales, compared to $325 million or 3.0% in the prior year[135]. - Dividends paid for the nine months ended October 28, 2023, were $92 million, compared to $90 million for the same period in 2022[138]. Risk and Compliance - There have been no material changes to the company's critical accounting estimates since the 2022 Annual Report, except for updates related to the Canada wind-down[149]. - The company continues to evaluate its internal controls and has concluded that its disclosure controls and procedures are effective as of the reporting date[160]. - Recent SEC rules regarding insider trading and share repurchase disclosures will be effective in the fourth quarter of 2023, but are not expected to materially impact operations[153][154]. - The company has not identified any current claims or litigation that would materially impact its financial position or cash flows[166]. - Interest rate risk and foreign currency exchange risk remain unchanged since the last report[157].