What to Look for in Nordstom’s Earnings
Nordstrom is set to release its fiscal fourth-quarter earnings report after the markets close on Thursday.
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Nordstrom Inc. (NYSE: JWN) is set to release its fiscal fourth-quarter earnings report after the markets close on Thursday. Thomson Reuters consensus estimates call for $1.22 in earnings per share (EPS) on revenue of $4.22 billion. In the same period of the previous year, the retailer posted EPS of $1.32 and $4.04 billion in revenue.
Now one of the leading fashion specialty retailers based in the United States, Nordstrom was founded in 1901 as a shoe store in Seattle. Today, Nordstrom operates over 250 stores in 35 states, including 117 full-line stores, 140 Nordstrom Racks, two Jeffrey boutiques and one clearance store. At this time last year, the company raised its dividend by 10% for the sixth consecutive year, and we might expect something similar again.
The company previously had announced the opening of three full-line stores in the Toronto area beginning this year, and it already has full-line stores in Calgary, Ottawa and Vancouver.
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Karen McKibbin, president of Nordstrom Canada, commented on the expansion:
We’re excited to announce our first Nordstrom Rack in Canada in such a wonderful location and provide Canadian customers another way to shop their favorite Nordstrom brands at great prices, We want to be a part of compelling locations across the country and this is a great first step. We look forward to getting our doors open to serve customers in Toronto.
Prior to the earnings report, a few analysts weighed in on Nordstrom:
- Sterne Agee CRT has a Neutral rating and a price target of $55.
- Barclays has an Underweight rating with a $42 price target.
- Wolfe Research has a Peer Perform rating.
- Deutsche Bank has a Buy rating with $59 price target.
So far in 2016, Nordstrom has outperformed the market, with the stock up nearly 5% year to date. Over the past 52 weeks, the stock is down about 18%.
Shares of Nordstrom were down 1.1% at $51.67 on Thursday, with a consensus analyst price target of $55.48 and a 52-week training range of $44.49 to $83.16.
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Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
