Nordstrom Inc
- Nordstrom Inc dropped 10.5% to $15.05 after the fashion apparel retailer reported better-than-expected quarterly results.
But investors sold stock after the company reiterated its full-year sales estimate to decline between 4% and 6%.
Total revenue in the second quarter ending in July declined 8.3% to $3.8 billion from $4.1 billion and net income rose to $137 million from $126 million and diluted earnings per share rose to 84 cents from 77 cents a year ago.
Excluding the impacts of the Canadian wind-down and Anniversary Sale timing shift, net sales would have been down approximately 4%.
During the quarter, Nordstrom banner net sales decreased 10.1% and GMV decreased 10.4% and net sales for Nordstrom Rack fell 4.1%.
Digital sales fell 12.9% in the quarter from a year earlier.
Collectively, eliminating store fulfillment for Nordstrom Rack digital orders during the third quarter of fiscal 2022 and the closing of Trunk Club during the second quarter of fiscal 2022 negatively impacted second quarter digital sales by approximately 500 basis points.
The timing shift of the Anniversary Sale had a negative impact on company digital sales of approximately 300 basis points compared with the second quarter of 2022.
Digital sales represented 36 percent of total sales during the quarter.
The board of directors declared a quarterly cash dividend of 19 cents a share payable on September 13 to shareholders of record on August 29.
Aug 25, 2023 - Nordstrom Inc increased 3% to $15.76 after the company reported better-than-expected quarterly results.
The company reaffirmed its revenue and adjusted financial outlook for fiscal 2023 and revenue is estimated to fall between 4% and 6%, including an approximately 250 basis point negative impact from the wind-down of Canadian operations and an approximately 130 basis point positive impact from the 53rd week in the current year.
Net sales declined 11.6% to $3.0 billion from $3.5 billion and the company swung to a loss of $205 million from a profit of $20 million and diluted earnings per share was ($1.27) compared to 13 cents a year ago.
Jun 1, 2023 - Nordstrom Inc said revenue in the fourth quarter decreased 4% to $4.2 billion and net income declined to $119 million from $200 million and diluted earnings per share fell to 74 cents from $1.23 a year ago.
In the fourth quarter, Nordstrom banner sales declined 2.4% and Nordstrom Rack sales dropped 8.1% and online sales fell 13.1% from the previous year.
Revenue in the full-year increased to $15.1 billion from $14.4 billion and net income rose to $245 million from $178 million or diluted earnings per share $1.51 from $1.10 in the previous year.
The luxury retailer announced its plan to wind down its Canada operations and close 6 Nordstrom stores and 7 Nordstrom Rack stores. The wind-down is expected to decline annual sales by $400 million and improve EBIT by $35 million and the retailer estimated wind-down related pre-tax charge between $300 million and $350 million in the first quarter of 2023.
The board of directors declared a quarterly cash dividend of $0.19 per share to be paid to shareholders of record on March 14 payable on March 29. During fiscal year 2022, the retailer repurchased 2.8 million shares of its common stock for $62 million under its existing $500 million share repurchase program with $438 million still available.
Mar 2, 2023 - Nordstrom said 9-week holiday period sales fell 3.5% from a year ago and lowered its fiscal year EPS outlook to between $1.33 and $1.53 from the previous range between $2.13 and $2.43.
Jan 19, 2023 - Nordstrom Q3 revenue eased 2.9% to $3.5 billion and swung to a net loss of $20 m from a profit of $64 m or 13 cents from 39 cents a year ago.
Nov 22, 2022
| Year | May | Aug | Nov | Feb | Annual | |
|---|---|---|---|---|---|---|
| 2023 | 0.74 | -1.27 | 0.84 | 0.41 | - | |
| 2022 | 1.27 | 0.13 | 0.77 | -0.13 | 1.51 | |
| 2021 | 0.22 | -1.05 | 0.49 | 0.39 | 1.1 | |
| 2020 | 1.24 | -3.33 | -1.62 | 0.34 | -4.39 | |
| 2019 | 1.48 | 0.23 | 0.90 | 1.42 | 3.18 | |
| 2018 | 1.20 | 0.51 | 0.95 | 0.67 | 3.32 | |
| 2017 | 1.37 | 0.43 | 0.65 | 0.67 | 3.12 | |
| 2016 | 1.17 | 0.26 | 0.67 | 0.84 | 2.94 | |
| 2015 | 1.32 | 0.66 | 0.93 | 0.57 | 3.48 | |
| 2014 | 0.72 | 0.95 | 0.73 | 1.36 | 3.71 | |
| 2013 | 0.73 | 0.93 | 0.69 | 1.40 | 3.56 | |
| 2012 | 0.70 | 0.75 | 0.71 | 1.10 | 3.14 | |
| 2011 | 0.65 | 0.80 | 0.59 | 1.04 | 2.75 | |
| 2010 | 0.52 | 0.66 | 0.53 | 0.78 | 2.01 | |
| 2009 | 0.37 | 0.48 | 0.38 | 0.31 | 1.83 | |
| 2008 | 0.54 | 0.65 | 0.33 | 0.89 | 2.88 | |
| 2007 | 0.60 | 0.71 | 0.68 | 0.88 | 2.55 | |
| 2006 | 0.48 | 0.67 | 0.52 | 0.68 | 1.98 | |
| 2005 | 0.38 | 0.53 | 0.39 | 0.50 | 1.38 |