Nordstrom, Inc. (JWN - Free Report) just released its third-quarter financial results, posting earnings of 67 cents per share and revenues of $3.63 billion.
Currently, JWN is a Zacks Rank #3 (Hold) and is down 4.02% to $38.42 per share in after-hours trading shortly after its earnings report was released. JWN closed about 4.5% higher on Thursday.
Nordstrom:
Beat earnings estimates. The company posted earnings of $0.67 per share, beating the Zacks Consensus Estimate of $0.63.
Beat revenue estimates. The company saw revenue figures of $3.63, beating our consensus estimate $3.60 billion.
Comparable-store sales were down 0.9% in the quarter. Nordstrom opened 19 stores, relocated three stores, and closed two stores in the quarter.
Looking ahead, Nordstrom expects to report approximately flat comps for the full fiscal year. Net sales are expected to increase by about 4%. This guidance has been left unchanged, however, management did update its earnings per share projections. The company now expects full-year earnings per diluted share to fall in the range of $2.85 to $2.95, which is slightly narrower than the previously announced $2.85 to $3.00 range.
“With a test and learn approach in finding innovative ways to improve speed, convenience and personalization for customers, the Company launched Nordstrom Local, its latest retail concept where customers can shop and access Nordstrom services in a convenient, central location,” the company noted.
Here’s a graph that looks at Nordstrom’s earnings surprise history:
Nordstrom, Inc. is one of the nation's leading fashion specialty retailers, with stores located in a number of states, including full-line stores, Nordstrom Racks, Faconnable boutiques, and free-standing shoe stores. Nordstrom also operates Faconnable boutiques throughout Europe. Additionally, Nordstrom serves customers through its online presence and through its direct mail catalogs.
Check back later for our full analysis on Nordstrom’s earnings report!
Want more stock market analysis from this author? Make sure to follow @Ryan_McQueeney on Twitter!
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Nordstrom, Inc. (JWN - Free Report) just released its third-quarter financial results, posting earnings of 67 cents per share and revenues of $3.63 billion.
Currently, JWN is a Zacks Rank #3 (Hold) and is down 4.02% to $38.42 per share in after-hours trading shortly after its earnings report was released. JWN closed about 4.5% higher on Thursday.
Nordstrom:
Beat earnings estimates. The company posted earnings of $0.67 per share, beating the Zacks Consensus Estimate of $0.63.
Beat revenue estimates. The company saw revenue figures of $3.63, beating our consensus estimate $3.60 billion.
Comparable-store sales were down 0.9% in the quarter. Nordstrom opened 19 stores, relocated three stores, and closed two stores in the quarter.
Looking ahead, Nordstrom expects to report approximately flat comps for the full fiscal year. Net sales are expected to increase by about 4%. This guidance has been left unchanged, however, management did update its earnings per share projections. The company now expects full-year earnings per diluted share to fall in the range of $2.85 to $2.95, which is slightly narrower than the previously announced $2.85 to $3.00 range.
“With a test and learn approach in finding innovative ways to improve speed, convenience and personalization for customers, the Company launched Nordstrom Local, its latest retail concept where customers can shop and access Nordstrom services in a convenient, central location,” the company noted.
Here’s a graph that looks at Nordstrom’s earnings surprise history:
Nordstrom, Inc. is one of the nation's leading fashion specialty retailers, with stores located in a number of states, including full-line stores, Nordstrom Racks, Faconnable boutiques, and free-standing shoe stores. Nordstrom also operates Faconnable boutiques throughout Europe. Additionally, Nordstrom serves customers through its online presence and through its direct mail catalogs.
Check back later for our full analysis on Nordstrom’s earnings report!
Want more stock market analysis from this author? Make sure to follow @Ryan_McQueeney on Twitter!
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +18.8% from 2016 - Q1 2017, our top stock-picking screens have returned +157.0%, +128.0%, +97.8%, +94.7%, and +90.2% respectively.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - Q1 2017, the composite yearly average gain for these strategies has beaten the market more than 11X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
See Them Free>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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