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].

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, 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) 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 ...

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]

A sign marks the location of a Nordstrom store in a shopping mall on March 20, 2024 in Chicago, Illinois.Nordstrom on Tuesday delivered a slightly rosier sales forecast, after revenue grew about 4% year over year as shoppers bought clothing, shoes and activewear at both the company's namesake department store and its off-price chain.The Seattle-based retailer said it now expects full-year revenue, which includes retail sales and credit card revenue, to range from flat to up 1% for the full year. That compar ...

Positive sales growth at both banners during third quarter, driving margin expansion Reports EPS of $0.27, adjusted EPS of $0.331 Updates fiscal 2024 revenue and comparable sales outlookSEATTLE, Nov. 26, 2024 /PRNewswire/ -- Nordstrom, Inc. (NYSE: JWN) today reported third quarter net earnings of $46 million, or earnings per diluted share ("EPS") of $0.27, and earnings before interest and taxes ("EBIT") of $83 million. Excluding a charge related to accelerated technology depreciation, the Company reported ...

Nordstrom, Inc. (JWN) is scheduled to release third-quarter fiscal 2024 results on Nov. 26 after the closing bell. This fashion specialty retailer is expected to have witnessed revenue growth in the to-be-reported quarter. The Zacks Consensus Estimate for revenues is pegged at $3.33 billion, which indicates a rise of 0.3% from the figure reported in the year-ago quarter.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.The consensus estimate for earnings is pegged at 23 cents per shar ...

Wall Street analysts forecast that Nordstrom (JWN) will report quarterly earnings of $0.23 per share in its upcoming release, pointing to a year-over-year decline of 8%. It is anticipated that revenues will amount to $3.33 billion, exhibiting an increase of 0.3% compared to the year-ago quarter.Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted upward by 1.9% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections d ...

Nordstrom, Inc. (JWN) continues to bolster its growth strategy with plans to open a Nordstrom Rack store in Lakeland, FL, by fall 2025. The new store will span 30,000 square feet inside Lakeside Village, a prominent shopping center featuring retailers like Kohl's, Books-A-Million and Belk, alongside entertainment options such as CMX Cinemas.The new rack store aims to become a key shopping destination for the local community by offering an extensive range of high-quality brands at affordable prices. The evol ...