Nordstrom Sees FY24 EPS $1.65-$2.05 Vs $2.05 Est.; Revenue Range, Including Retail Sales And Credit Card Revenues, Of 2% Decline To 1% Growth Versus The 53-Week Fiscal 2023
Portfolio Pulse from Benzinga Newsdesk
Nordstrom projects its FY24 EPS to be between $1.65 and $2.05, below the estimated $2.05, with revenue ranging from a 2% decline to 1% growth compared to fiscal 2023. This outlook includes new Rack store openings, growth in digital sales, and comparable store sales growth. The company also forecasts a 3.5 to 4.0 percent EBIT margin and an income tax rate of approximately 27%. The 53rd week in fiscal 2023 is expected to unfavorably impact year-over-year comparisons.
March 05, 2024 | 9:25 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Nordstrom's FY24 EPS projection is below the estimated $2.05, with potential revenue changes ranging from a 2% decline to 1% growth. The company plans to open new Rack stores and focus on digital and comparable store sales growth.
The projected EPS being below the estimated $2.05 suggests a cautious or negative outlook, which could lead to a short-term negative impact on the stock price. The revenue projection's range from a decline to modest growth further underscores the uncertainty and potential challenges facing the company, likely influencing investor sentiment negatively.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100