Nordstrom Does It Again in Q3
Nordstrom released fiscal third-quarter financial results and full-year guidance after markets closed Thursday.
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Nordstrom Inc. (NYSE: JWN) released fiscal third-quarter financial results after markets closed Thursday. The retailer said that it had $0.81 in earnings per share (EPS) and $3.67 billion in revenue, compared with consensus estimates that called for $0.64 in EPS and $3.67 billion in revenue. The same period from last year had $0.67 in EPS and $3.75 billion in revenue.
Overall, sales trends improved across Nordstrom’s Full-Price and Off-Price businesses through aggressive actions taken during the year related to loyalty, digital marketing and merchandise assortment.
In Full-Price, net sales decreased 4.1% compared with the same period in fiscal 2018. Off-Price net sales increased 1.2%. Total company digital sales grew 7% and represented 34% of the business.
Looking ahead to the 2019 fiscal full year, the company expects to see EPS in the range of $3.30 to $3.50 and net sales decreasing 2%. Consensus estimates are calling for $3.29 in EPS and $15.52 billion in revenue for the full year.
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Erik Nordstrom, co-president, commented:
Our third quarter earnings exceeded expectations, demonstrating substantial progress in the delivery of our strategy and strength of our operating discipline. Through our customer focus, we drove broad-based improvement in top-line trends. The consistent strength of our inventory and expense execution contributed to increased profitability for the quarter.
Shares of Nordstrom closed Thursday at $34.30, within a 52-week range of $25.01 to $54.65. The consensus analyst price target is $34.35. Following the announcement, the stock was up about 6% at $36.30 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.
