Nordstrom(JWN)

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Nordstrom Rack to Open New Location in Lubbock, Texas
Prnewswire· 2024-12-11 14:00
SEATTLE, Dec. 11, 2024 /PRNewswire/ -- Seattle-based fashion retailer Nordstrom, Inc. (NYSE: JWN) announced plans to open a new Nordstrom Rack in Lubbock, Texas in fall 2025."We look forward to being a part of the Lubbock community and serving our customers with an amazing offering of great brands at great prices," said Gemma Lionello, President of Nordstrom Rack. "We're excited to grow our footprint in the Lubbock market and introduce new customers to the Nordstrom experience." Lionello added that in this ...
Nordstrom Q3 Earnings Beat, Rack Banner Sales Increase 10.6% Y/Y
ZACKS· 2024-11-27 20:36
Nordstrom, Inc. (JWN) posted third-quarter fiscal 2024 results, wherein the top and bottom lines beat the Zacks Consensus Estimate and improved year over year. However, the Anniversary Sale timing, which led to the shift of one week from the third quarter to the second quarter, affected results.This Seattle, WA-based company posted adjusted earnings of 33 cents a share, which surpassed the Zacks Consensus Estimate of 23 cents and improved 32% from the 25 cents reported in the year-ago period. Total revenues ...
Nordstrom Q3 Sales Grow, But Analysts Remain Cautious On Stock Amid Slowing Sales And Elevated Inventory
Benzinga· 2024-11-27 18:51
Nordstrom, Inc. JWN shares are trading lower on Wednesday.For the third quarter, the company’s net sales increased 4.6% compared to the same period in fiscal 2023, total company comparable sales increased 4.0%, and gross merchandise value increased 5.3%. JP Morgan analyst Matthew R. Boss reiterated the Underweight rating on the stock, raising the price forecast to $21 from $20.The analyst notes that despite favorable conditions for Nordstorm’s core customer base, including high personal savings rates, low d ...
NORDSTROM NYC TRANSFORMS WITH THE BLIZZ ON 57TH STREET HOLIDAY TAKEOVER STARRING JOHN WATERS AND FRAN DRESCHER
Prnewswire· 2024-11-27 14:00
NEW YORK, Nov. 27, 2024 /PRNewswire/ -- This holiday season, Nordstrom NYC's flagship on 57th Street will be immersed in a world of wonder as part of the Wonder All the Way campaign and display, The Blizz on 57th Street. This activation celebrates the spirit of holiday magic and the timeless joy of seeing the world through limitless wonder. Photo Credit: Nordstrom/Jack Koto Photo Credit: Nordstrom/Jack Koto The festive takeover transforms the flagship to create both a shopping destination and a visua ...
Nordstrom shares set to dip as guidance held steady
Proactiveinvestors NA· 2024-11-27 13:53
Group 1 - Proactive provides fast, accessible, informative, and actionable business and finance news content to a global investment audience [2][3] - The news team covers medium and small-cap markets, as well as blue-chip companies, commodities, and broader investment stories [2][3] - Proactive's content includes insights across various sectors such as biotech, pharma, mining, natural resources, battery metals, oil and gas, crypto, and emerging digital and EV technologies [3] Group 2 - Proactive adopts technology to enhance workflows and improve content production [4][5] - The company utilizes automation and software tools, including generative AI, while ensuring all content is edited and authored by humans [5]
Nordstrom's Digital Sales and Enhanced Customer Experience Drive Growth in Q3
PYMNTS.com· 2024-11-27 01:17
Core Insights - Nordstrom's digital sales and overall customer experience enhancements contributed to growth in net and comparable sales, margin expansion, and an increased customer base in the third quarter [1][3]. Sales Performance - Both Nordstrom and Nordstrom Rack achieved 4% comparable sales growth, with digital sales growing over 6%, marking the fourth consecutive quarter of positive total company net sales growth [2][3]. - Net sales increased by 4.6% to $3.34 billion, with digital sales accounting for 34% of total sales during the quarter [3]. Customer Experience - The company reported improvements in customer metrics, including increased customer count, customer trips, and average order per trip across both banners [2][3]. - Investments in digital platforms, including website and app enhancements, have been pivotal in improving customer experience [4]. Operational Efficiency - Operational optimization efforts have led to over 40% improvement in the speed of customer returns, allowing for quicker processing and reintegration of items into inventory [5][6]. - The supply chain team's efforts have supported new store openings and positioned the company well for the holiday season in terms of inventory flow, staffing, and shipping capacity [7]. Outlook - Despite a slight slowdown in sales at the end of October, the company remains optimistic about the holiday season, citing strong execution of strategies and commitment to customer service [7].
Compared to Estimates, Nordstrom (JWN) Q3 Earnings: A Look at Key Metrics
ZACKS· 2024-11-27 00:31
For the quarter ended October 2024, Nordstrom (JWN) reported revenue of $3.46 billion, up 4.3% over the same period last year. EPS came in at $0.33, compared to $0.25 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $3.33 billion, representing a surprise of +3.99%. The company delivered an EPS surprise of +43.48%, with the consensus EPS estimate being $0.23.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they ...
Nordstrom(JWN) - 2024 Q3 - Earnings Call Transcript
2024-11-27 00:20
Nordstrom, Inc. (NYSE:JWN) Q3 2024 Earnings Call Transcript November 26, 2024 4:45 PM ET Company Participants Jamie Duies - Head of IR Erik Nordstrom - CEO Pete Nordstrom - President Cathy Smith - CFO Conference Call Participants Brooke Roach - Goldman Sachs Simeon Siegel - BMO Capital Markets Oliver Chen - TD Cowen Dana Telsey - Telsey Advisory Group Alex Straton - Morgan Stanley Tracy Kogan - Citigroup Blake Anderson - Jefferies Chuck Gron - Gordon Haskett Operator Greetings and welcome to the Nordstrom T ...
Nordstrom (JWN) Tops Q3 Earnings and Revenue Estimates
ZACKS· 2024-11-26 23:20
Nordstrom (JWN) came out with quarterly earnings of $0.33 per share, beating the Zacks Consensus Estimate of $0.23 per share. This compares to earnings of $0.25 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 43.48%. A quarter ago, it was expected that this department store operator would post earnings of $0.74 per share when it actually produced earnings of $0.96, delivering a surprise of 29.73%.Over the last four quarters, t ...
Nordstrom(JWN) - 2025 Q3 - Quarterly Results
2024-11-26 21:32
Financial Performance - Nordstrom reported third quarter net earnings of $46 million, or EPS of $0.27, with adjusted EPS of $0.33[1] - Net earnings for the quarter were $46 million, a decrease of 31.3% from $67 million in the same quarter last year[14] - The company reported net earnings of $263 million for the four quarters ended November 2, 2024, compared to $119 million for the same period last year[29] - Adjusted EPS for the quarter was $0.33, compared to $0.25 in the previous year, representing a growth of 32%[22] Sales and Revenue - Total company net sales increased by 4.6% to $1.0 billion, while comparable sales rose by 4.0% compared to the same period in fiscal 2023[2] - Net sales for the quarter ended November 2, 2024, were $3,347 million, an increase of 4.6% compared to $3,200 million for the same period in 2023[14] - Total revenues for the nine months ended November 2, 2024, reached $10,692 million, up from $10,273 million in the prior year, reflecting a growth of 4.1%[14] - Nordstrom Rack net sales surged by 10.6%, with comparable sales increasing by 3.9% compared to the same period in fiscal 2023[2] - Nordstrom Rack's net sales increased by 10.6% for the quarter ended November 2, 2024, compared to a decrease of 1.8% in the previous year[24] Profitability Metrics - Adjusted EBIT for the third quarter was $97 million, while EBIT was $83 million, down from $102 million in the same period last year[4] - The EBIT margin for the quarter was 2.5%, down from 3.2% in the same quarter last year[22] - The gross profit margin increased to 35.6% for the quarter, up from 35.0% in the same quarter last year[14] - Adjusted EBITDA for the nine months ended November 2, 2024, was $727 million, compared to $697 million for the same period in 2023, indicating a growth of 4.3%[22] Cash Flow and Liquidity - Cash and cash equivalents at the end of the period were $397 million, a decrease from $628 million at the beginning of the period[18] - The company reported a net cash provided by operating activities of $371 million for the quarter, compared to $107 million in the same quarter last year[18] - Free Cash Flow for the nine months ended November 2, 2024, was $78 million, a significant improvement from a negative $231 million for the same period last year[34] Inventory and Expenses - Ending inventory increased by 5.9% compared to the same period in fiscal 2023, outpacing the 4.6% increase in sales[4] - Selling, general and administrative expenses as a percentage of net sales rose to 36.6%, primarily due to higher labor costs[4] Future Outlook - The company updated its fiscal 2024 outlook, projecting revenue growth of flat to 1.0% and comparable sales growth of 1.0% to 2.0%[8] - The expected adjusted EBIT margin for fiscal year 2024 is projected to be between 3.6% and 4.0%[26] - Expected adjusted EPS for fiscal year 2024 is forecasted to be between $1.75 and $2.05[26] - The income tax expense for the expected adjusted EPS outlook is estimated to be between 0.6% and 0.7% of net sales[26] Store Expansion - The company opened 23 new stores in fiscal 2024, expanding its total store count to 381 locations[5] Key Ratios - Adjusted ROIC for the four quarters ended November 2, 2024, was 8.8%, up from 8.1% for the four quarters ended October 28, 2023[29] - Adjusted debt to EBITDAR ratio is reported at 2.8, indicating a stable credit profile[31]