Retail
Why Nordstrom Earnings Failed to Please Analysts
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Nordstrom Inc. (NYSE: JWN), unlike a few of the other earnings reports and analyst calls we have recently reviewed, got the short end of the stick and investors were not pleased. The reactions from analysts across the board were not favorable, to say the least.
The company had $1.17 in earnings per share (EPS) on $4.19 billion in revenue, compared to consensus estimates from Thomson Reuters that called for $1.22 in EPS on revenue of $4.22 billion. The same period from the previous year had $1.32 in EPS on $4.04 billion in revenue.
Fourth quarter net sales increased 5.2% and comparable sales increased 1.0%, consistent with a comparable sales increase of 0.9% in the third quarter.
In terms of the fiscal full-year guidance, Nordstrom expects net sales to increase 3.5% to 5.5%, comparable sales to increase 0% to 2% and EPS in the range of $3.10 to $3.35. Consensus estimates call for $3.37 in EPS on $14.43 billion in revenue for the full year.
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