Fashion retailer Nordstrom, Inc. (NYSE: JWN) has reported operating results for the third quarter of 2023. The management provided full-year guidance.
- In the third quarter, the company’s net sales decreased to $3.20 billion from $3.43 billion in the prior year quarter
- for the Nordstrom banner, net sales dropped 9.4%, and Nordstrom Rack banner sales declined 1.8%
- Q3 net income was $67 million or $0.41 per share, compared to a loss of $20 million or $0.13 per share last year
- Gross profit, as a percentage of net sales, increased 180 basis points year-over-year to 35% in the third quarter
- For fiscal 2023, the company expects revenue to decline in the range of 4% to 6%, versus fiscal 2022
- Full-year EBIT margin, including the negative impact of charges related to the wind-down of Canadian operations, is expected to be 1.8-2.1% of sales
- The company is looking for FY23 earnings in the range of $0.74 per share to $0.94 per share, excluding the impact of share repurchase activity
Listen to the conference calls as they happen. Don't miss a beat! With AlphaStreet Intelligence, you can listen to live calls and interviews as they happen, so you never have to worry about missing out on important information.
Most Popular
Earnings Preview: Fastenal Company likely to report higher Q2 sales and profit
Fastenal Company (NASDAQ: FAST), a leading provider of industrial and construction supplies, is set to publish its second-quarter results next week. The company is among the hardest hit by the
What to look for when Netflix (NFLX) reports its Q2 2025 earnings results
Shares of Netflix, Inc. (NASDAQ: NFLX) stayed red on Monday. The stock has gained 50% over the past three months. The streaming giant is scheduled to report its earnings results
Coinbase shines on stablecoin boom, S&P 500 debut. Will the rally continue?
Coinbase Global, Inc. (NASDAQ: COIN) has emerged as the largest and most user-friendly cryptocurrency exchange in the US, since going public a few years ago. It has played a pivotal
