Why Nordstrom Is Getting Crushed in Q3
Nordstrom released its most recent quarterly results after the close on Thursday.
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Nordstrom, Inc. (NYSE: JWN) released its most recent quarterly results after the close on Thursday. The company said that it had $0.39 in earnings per share (EPS) and $3.75 billion in revenue, which compares with consensus estimates from Thomson Reuters that are calling for $0.66 in EPS and $3.69 billion in revenue. The same period from last year had $0.67 in EPS and $3.63 billion in revenue.
In Full-Price, comparable sales increased 0.4 percent. In Off-Price, comparable sales increased 5.8 percent.
Also during this quarter, the company delivered outsized digital sales growth of 20%, which represented 30% of sales, on a year-to-date basis.
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To date in fiscal 2018, Nordstrom has opened sixteen stores, closed two stores and relocated one store.
Looking ahead to the fiscal full year, the company expects to see EPS in the range of $3.55 to $3.65 and revenue in the range of $15.5 billion to $15.6 billion. Consensus estimates are calling for $3.60 in EPS and $15.91 billion in revenue for the full year.
On the books, cash and cash equivalents totaled $1.13 billion, versus $672 million in the same period from last year.
Shares of Nordstrom closed Thursday at $58.99, with a 52-week range of $39.03 to $67.75. The stock has a consensus analyst price target of $61.17. Following the announcement, the stock was down 12% at $52.00 in the after-hours session.
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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.
