Streetbeat News

JWN

Nordstrom, Inc.

https://press.nordstrom.com

Industry

Department Stores

Nordstrom, Inc., a fashion retailer, provides apparels, shoes, beauty, accessories, and home goods for women, men, young adults, and children. It offers a range of brand name and private label merchandise through various channels, such as Nordstrom branded stores and online at Nordstrom.com; TrunkClub.com; Nordstrom.ca; Nordstrom stores; Nordstrom Rack stores; Nordstrom Locals; Nordstromrack.com and HauteLook; clearance stores under the Last Chance name; Trunk Club clubhouses; and Jeffrey boutiques. As of December 31, 2021, the company operated 94 Nordstrom stores and 240 Nordstrom Rack stores in the United States; 2 clearance stores; and 7 Nordstrom Local service hubs, as well as 6 Nordstrom stores and 7 Nordstrom Rack stores in Canada. Nordstrom, Inc. was founded in 1901 and is headquartered in Seattle, Washington.

Open

22.50

Mkt cap

3.8B

Volume

1.1M

High

23.19

P/E Ratio

13.24

52-wk high

24.93

Low

22.40

Div yield

0.03

52-wk low

12.88

Telsey Advisory Group analyst Dana Telsey has maintained a 'Market Perform' rating on Nordstrom (JWN) and increased the price target from $17 to $19.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 10:12 am

Nordstrom Inc (NYSE:JWN) reported Q4 earnings of 96 cents per share, surpassing the consensus of 88 cents, with sales of $4.42 billion beating estimates of $4.388 billion. Total net sales increased by 2.2%, though Nordstrom banner sales fell by 3%. Nordstrom Rack sales rose by 14.6%. Despite meeting 2023 guidance, the company's 2024 earnings outlook of $1.65 to $2.05 per share falls below the $2.05 estimate, with revenue expected to range from a 2% decline to 1% growth. Shares dropped 10.43% after-hours to $18.72.

Portfolio Pulse from Erica Kollmann

March 05, 2024 | 10:19 pm

In Tuesday's after-market session, several consumer discretionary stocks showed notable movements. Gainers included Nerdy, Big 5 Sporting Goods, Yoshitsu Co, Express, Rent the Runway, and BARK with increases ranging from 3.87% to 5.0%. On the downside, Nordstrom, America's Car-Mart, Color Star Tech, Visionary Holdings, American Public Education, and Fitell experienced declines between 3.01% and 9.3%, with Nordstrom and American Public Education specifically reacting to their Q4 earnings reports.

Portfolio Pulse from Benzinga Insights

March 05, 2024 | 9:31 pm

Nordstrom's stock price is trading lower following the company's announcement of weaker than expected earnings per share (EPS) guidance for the fiscal year 2024.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 9:26 pm

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.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 9:25 pm

Nordstrom (JWN) reported Q4 2024 adjusted EPS of $0.960, surpassing the $0.880 estimate, with sales of $4.420B also exceeding the $4.388B estimate.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 9:06 pm

Wall Street experienced volatility with major indices down, led by a plunge in mega-cap tech stocks. Tesla and Apple saw significant losses, influenced by a report of declining iPhone sales in China. Bitcoin's value dropped after reaching a record high, while Treasury yields fell, hinting at potential Federal Reserve rate cuts. The iShares 20+ Year Treasury Bond ETF saw gains. Various stocks and ETFs moved based on earnings reports, analyst notes, and capital raising plans.

Portfolio Pulse from Piero Cingari

March 05, 2024 | 7:01 pm

Nasdaq futures are down due to mega-cap tech weakness, with analysts suggesting profit-taking ahead of key events like Federal Reserve Chair Jerome Powell's testimony. The S&P 500 and Nasdaq Composite retreated from all-time highs, while defensive sectors gained. Louis Navellier remains bullish, comparing 2024 to 1999's market. SPDR S&P 500 ETF Trust and Invesco QQQ ETF saw premarket declines. AeroVironment surged post-earnings, while GitLab, Paymentus, and Stitch Fix showed significant moves. Target and others are set to report earnings.

Portfolio Pulse from Shanthi Rexaline

March 05, 2024 | 11:38 am

Earnings reports for March 5, 2024, include a mix of expected quarterly losses and earnings from various sectors. Notable companies like NIO, Target, and Nordstrom are among those reporting. The reports span across different industries, including automotive, retail, biotech, and technology, indicating a broad market impact.

Portfolio Pulse from Benzinga Insights

March 05, 2024 | 10:00 am

The CNN Money Fear and Greed index indicates 'Extreme Greed' in the market, despite a drop in the S&P 500 and Nasdaq from record highs. Macy's shares surged 13.6% after a raised acquisition offer, while JOANN Inc. shares plummeted 44% amid bankruptcy considerations. The market awaits earnings from Nordstrom, NIO, Target, and Ross Stores.

Portfolio Pulse from Avi Kapoor

March 05, 2024 | 7:25 am

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.