Nordstrom Soars 7.9% on Word Founding Family Aims to Take a Majority Stake
https://www.thestreet.com/investing/sto ... t-15040024
Nordstrom NYSE: JWN sklepy z odzieżą markową
Re: Nordstrom NYSE: JWN sklepy z odzieżą markową
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Re: Nordstrom NYSE: JWN sklepy z odzieżą markową
Nordstrom Spikes on Q2 Earnings Beat
For the second time this year, Nordstrom lowered its full-year earnings expectations.
Shares of Nordstrom (JWN - Get Report) are rising after hours Wednesday after the Seattle retailer reported fiscal-second-quarter results ahead of analyst expectations thanks to a decline in inventory and expenses.
For the quarter ended Aug. 3, Nordstrom reported earnings of 90 cents a share on revenue of $3.87 billion. Analysts were expecting the company to report earnings of 77 cents a share on revenue of $3.92 billion.
For the second time this year, Nordstrom lowered its full-year earnings expectations, this time to $3.25 to $3.50 a share.
In May, Nordstrom cut its full-year estimate to between $3.25 and $3.65 a share from $3.65 to $3.90. Wall Street now expects the company to report EPS of $3.28.
Revenue for the year is expected to decline about 2%.
The company also said it would open its New York City flagship store on Oct. 24 as part of its strategy to expand local markets.
https://www.thestreet.com/investing/ear ... t-15064277
For the second time this year, Nordstrom lowered its full-year earnings expectations.
Shares of Nordstrom (JWN - Get Report) are rising after hours Wednesday after the Seattle retailer reported fiscal-second-quarter results ahead of analyst expectations thanks to a decline in inventory and expenses.
For the quarter ended Aug. 3, Nordstrom reported earnings of 90 cents a share on revenue of $3.87 billion. Analysts were expecting the company to report earnings of 77 cents a share on revenue of $3.92 billion.
For the second time this year, Nordstrom lowered its full-year earnings expectations, this time to $3.25 to $3.50 a share.
In May, Nordstrom cut its full-year estimate to between $3.25 and $3.65 a share from $3.65 to $3.90. Wall Street now expects the company to report EPS of $3.28.
Revenue for the year is expected to decline about 2%.
The company also said it would open its New York City flagship store on Oct. 24 as part of its strategy to expand local markets.
https://www.thestreet.com/investing/ear ... t-15064277
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: Nordstrom NYSE: JWN sklepy z odzieżą markową
Nordstrom (JWN) sold off 26% Wednesday morning after the retailer missed third-quarter sales estimates.
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: Nordstrom NYSE: JWN sklepy z odzieżą markową
Nordstrom (NYSE:JWN) shares rose around 9% after-hours following the company’s reported Q1 results, with revenue coming in at $3.57 billion (up 18.7% year-over-year), compared to the consensus estimate of $3.27 billion. EPS came in at ($0.06), compared to the consensus estimate of ($0.05).
Gross merchandise value (GMV) grew 19.6% year-over-year in Q1. Nordstrom banner revenue increased 23.5% year-over-year, and Nordstrom Rack banner revenue increased 10.3% year-over-year.
"Our focus on serving the customer through our interconnected model with Nordstrom and Nordstrom Rack, a scaled digital platform and a strong store fleet positioned us to capitalize on demand from customers who shopped for long-awaited occasions and refreshed their closets," said Erik Nordstrom, chief executive officer of Nordstrom, Inc. "In the first quarter, we drove strong topline growth with broad-based improvement across core categories and geographies. Importantly, we made progress on our strategic initiatives and continue to focus on increasing profitability on the path to achieving our financial targets."
The company provided its full 2022-year outlook, expecting EPS in the range of $3.20-$3.50, compared to the consensus estimate of $3.12. Revenue growth, including retail sales and credit card revenues, is expected to be 6-8%.
The Board of directors also authorized a new $500 million share repurchase program.
Shares of Nordstrom were down 9% year-to-date into the earnings.
Gross merchandise value (GMV) grew 19.6% year-over-year in Q1. Nordstrom banner revenue increased 23.5% year-over-year, and Nordstrom Rack banner revenue increased 10.3% year-over-year.
"Our focus on serving the customer through our interconnected model with Nordstrom and Nordstrom Rack, a scaled digital platform and a strong store fleet positioned us to capitalize on demand from customers who shopped for long-awaited occasions and refreshed their closets," said Erik Nordstrom, chief executive officer of Nordstrom, Inc. "In the first quarter, we drove strong topline growth with broad-based improvement across core categories and geographies. Importantly, we made progress on our strategic initiatives and continue to focus on increasing profitability on the path to achieving our financial targets."
The company provided its full 2022-year outlook, expecting EPS in the range of $3.20-$3.50, compared to the consensus estimate of $3.12. Revenue growth, including retail sales and credit card revenues, is expected to be 6-8%.
The Board of directors also authorized a new $500 million share repurchase program.
Shares of Nordstrom were down 9% year-to-date into the earnings.
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: Nordstrom NYSE: JWN sklepy z odzieżą markową
Nordstrom shares down 4% on guidance cut, while Q3 results beat estimates
https://www.investing.com/news/stock-ma ... SI-2950234
https://www.investing.com/news/stock-ma ... SI-2950234
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: Nordstrom NYSE: JWN sklepy z odzieżą markową
(Reuters) - Nordstrom Inc (NYSE:JWN) slashed its annual profit forecast after heavy discounting failed to sway people shopping at its off-price Rack stores, leading to weak holiday sales and pushing its shares down 6% in after-hours trading on Thursday.
The company said it now expected annual revenue growth to be at the low end of its previous expectation of 5% to 7%. Net sales at Nordstrom Rack fell 7.6% in the nine weeks to Dec. 31, from the nine weeks ended Jan 1, 2022.
U.S. retailers have been hit by Americans cutting back discretionary spending due to decades-high inflation, and their margins have come under pressure from steep discounts to clear bloated inventories.
Department store peer Macy's Inc (NYSE:M) tempered its holiday sales forecast earlier this month, blaming a deeper-than-expected lull in shopping between major holidays such as Black Friday and Christmas. Athleisure chain Lululemon Athletica (NASDAQ:LULU) Inc warned of a margin squeeze for the quarter.
People also pulled ahead purchases to as early as October, when retailers were offering higher discounts, leading to weaker-than-expected holiday sales, data from the National Retail Federation showed on Wednesday.
Nordstrom, though, is doing worse than rivals.
It has had to offer more markdowns than planned and its Rack banner is still facing inventory mismanagement and merchandising problems triggered by supply-chain issues over the pandemic, when it had a severe shortage of women's clothing and shoes.
"They have had chronic merchandising missteps and just cannot seem to get any form of consistency at Rack," William Blair analyst Dylan Carden said.
Nordstrom now expects adjusted earnings per share of $1.50 to $1.70 for fiscal 2022, compared with its prior outlook of $2.30 to $2.60.
Still, this year could offer some hope for Nordstrom and other retailers, analysts said, pointing to easing inflation, improved inventory levels and normalizing freight and labor costs.
"Going into 2023, it gives me some confidence that even if the first half is kind of weak, maybe it'll start to look better in the second-half of the year," Morningstar analyst David Swartz said.
The company said it now expected annual revenue growth to be at the low end of its previous expectation of 5% to 7%. Net sales at Nordstrom Rack fell 7.6% in the nine weeks to Dec. 31, from the nine weeks ended Jan 1, 2022.
U.S. retailers have been hit by Americans cutting back discretionary spending due to decades-high inflation, and their margins have come under pressure from steep discounts to clear bloated inventories.
Department store peer Macy's Inc (NYSE:M) tempered its holiday sales forecast earlier this month, blaming a deeper-than-expected lull in shopping between major holidays such as Black Friday and Christmas. Athleisure chain Lululemon Athletica (NASDAQ:LULU) Inc warned of a margin squeeze for the quarter.
People also pulled ahead purchases to as early as October, when retailers were offering higher discounts, leading to weaker-than-expected holiday sales, data from the National Retail Federation showed on Wednesday.
Nordstrom, though, is doing worse than rivals.
It has had to offer more markdowns than planned and its Rack banner is still facing inventory mismanagement and merchandising problems triggered by supply-chain issues over the pandemic, when it had a severe shortage of women's clothing and shoes.
"They have had chronic merchandising missteps and just cannot seem to get any form of consistency at Rack," William Blair analyst Dylan Carden said.
Nordstrom now expects adjusted earnings per share of $1.50 to $1.70 for fiscal 2022, compared with its prior outlook of $2.30 to $2.60.
Still, this year could offer some hope for Nordstrom and other retailers, analysts said, pointing to easing inflation, improved inventory levels and normalizing freight and labor costs.
"Going into 2023, it gives me some confidence that even if the first half is kind of weak, maybe it'll start to look better in the second-half of the year," Morningstar analyst David Swartz said.
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: Nordstrom NYSE: JWN sklepy z odzieżą markową
Nordstrom surges 30% on WSJ report Ryan Cohen has a 'sizable' stake, eyes changes
Activist investor and billionaire Ryan Cohen is reportedly building a “sizeable” stake in Nordstrom (NYSE:JWN), the Wall Street Journal reports. Cohen is reportedly one of the top 5 non-family shareholders of JWN, which had a $3.38 billion market capitalization based on yesterday’s closing price of $21.14 a share.
The investor is planning to push for board changes as shares trade about 75% off their all-time high set in 2015. Cohen, who became a billionaire by founding pet retailer Chewy (NYSE:CHWY), intends to talk to management about refreshing the board which could result in cost-cutting actions to offset falling sales.
“While Mr. Cohen hasn’t sought any discussions with us in several years, we are open to hearing his views, as we do with all Nordstrom shareholders,” a Nordstrom spokeswoman told WSJ in a statement. “We will continue to take actions that we believe are in the best interests of the company and our shareholders.”
The activist investor is reportedly specifically aiming to replace Mark Tritton, the former Chief Executive of Bed Bath & Beyond (NASDAQ:BBBY), whom he sees as “conflicted and unqualified.” Tritton chairs the compensation committee at Nordstrom. A pair of director candidates have already been recruited by Cohen for potential nomination to JWN’s board, the WSJ report adds.
Cohen had a big stake in Bed Bath & Beyond and was known for criticizing the company’s management. He reportedly netted $60 million by selling his stake in the troubled retailer last August.
https://www.investing.com/news/stock-ma ... es-2994828
Activist investor and billionaire Ryan Cohen is reportedly building a “sizeable” stake in Nordstrom (NYSE:JWN), the Wall Street Journal reports. Cohen is reportedly one of the top 5 non-family shareholders of JWN, which had a $3.38 billion market capitalization based on yesterday’s closing price of $21.14 a share.
The investor is planning to push for board changes as shares trade about 75% off their all-time high set in 2015. Cohen, who became a billionaire by founding pet retailer Chewy (NYSE:CHWY), intends to talk to management about refreshing the board which could result in cost-cutting actions to offset falling sales.
“While Mr. Cohen hasn’t sought any discussions with us in several years, we are open to hearing his views, as we do with all Nordstrom shareholders,” a Nordstrom spokeswoman told WSJ in a statement. “We will continue to take actions that we believe are in the best interests of the company and our shareholders.”
The activist investor is reportedly specifically aiming to replace Mark Tritton, the former Chief Executive of Bed Bath & Beyond (NASDAQ:BBBY), whom he sees as “conflicted and unqualified.” Tritton chairs the compensation committee at Nordstrom. A pair of director candidates have already been recruited by Cohen for potential nomination to JWN’s board, the WSJ report adds.
Cohen had a big stake in Bed Bath & Beyond and was known for criticizing the company’s management. He reportedly netted $60 million by selling his stake in the troubled retailer last August.
https://www.investing.com/news/stock-ma ... es-2994828
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: Nordstrom NYSE: JWN sklepy z odzieżą markową
Investing.com -- Nordstrom Inc (NYSE:JWN) shares were rising after the department store operator reported better-than-expected sales for the April quarter.
The company reported an adjusted profit of 7 cents a share on revenue of $3.2 billion. Analysts expected a 10-cent loss per share on revenue of $3.1B.
Nordstrom shares were up 9% in after-hours trading.
The retailer confirmed its outlook for fiscal 2023, saying revenue expectations are for a drop of 4% to 6% compared with 2022, but adjusted EPS will range between $1.80 and $2.20. That excludes the effect of winding down locations and its online operations in Canada.
The company said Nordstrom Rack sales trends improved late in the quarter, with the strongest performance in April, driven by the increased penetration of strategic brands in its merchandise mix.
“We are pleased with the progress we’re making against the key priorities we laid out for 2023 as we continue to enhance our overall customer experience, improve Nordstrom Rack performance, increase inventory productivity and optimize our supply chain operations,” said CEO Erik Nordstrom in a statement.
The company reported an adjusted profit of 7 cents a share on revenue of $3.2 billion. Analysts expected a 10-cent loss per share on revenue of $3.1B.
Nordstrom shares were up 9% in after-hours trading.
The retailer confirmed its outlook for fiscal 2023, saying revenue expectations are for a drop of 4% to 6% compared with 2022, but adjusted EPS will range between $1.80 and $2.20. That excludes the effect of winding down locations and its online operations in Canada.
The company said Nordstrom Rack sales trends improved late in the quarter, with the strongest performance in April, driven by the increased penetration of strategic brands in its merchandise mix.
“We are pleased with the progress we’re making against the key priorities we laid out for 2023 as we continue to enhance our overall customer experience, improve Nordstrom Rack performance, increase inventory productivity and optimize our supply chain operations,” said CEO Erik Nordstrom in a statement.
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: Nordstrom NYSE: JWN sklepy z odzieżą markową
Nordstrom (NYSE:JWN) reiterated its full-year guidance Thursday and reported Q2 adjusted EPS of $0.81, crushing the $0.45 average Street target, on better-than-expected revenue of $3.77B. Still, sales suffered a 275-basis-point hit from its wind-down of Canadian operations, as well as a 12.9% fall in online sales due to elimination of store fulfillment for Nordstrom Rack digital orders in the prior year and the closing down of Trunk Club.
Nordstrom shares were ticking down fractionally to $16.75 in recent premarket trading Friday.
Nordstrom shares were ticking down fractionally to $16.75 in recent premarket trading Friday.
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
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