Fashion retailer Nordstrom, Inc. (NYSE: JWN) has announced operating results for the first quarter of 2024, reporting higher sales and a narrower net loss.
- Net sales increased 5.1% year-over-year to $3.22 billion in the first quarter of 2024 from $3.06 billion a year earlier
- Total company comparable sales increased 3.8% annually during the three months
- Nordstrom banner net sales increased 0.6% and comparable sales advanced 1.8% in the April quarter
- The company reported a net loss of $39 million or $0.24 per share for Q1, vs. a loss of $205 million or $1.27 per share last year
- Net sales of the Nordstrom Rack segment rose 13.8% and comparable sales moved up 7.9%
- Active, Kids’ apparel and Women’s apparel registered double-digit annual growth in Q1, and Beauty rose by high single-digits
- The board of directors declared a quarterly cash dividend of $0.19 per share during the quarter, payable on June 19, 2024
- For fiscal 2024, the company expects comparable sales change to be in the range of a 1% decline to 2% growth
- Full-year EBIT margin is expected to be in the range of 3.5% to 4.0% of sales
- The management is looking for FY24 earnings per share between $1.65 and $2.05, 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
Key highlights from Deere & Co.’s (DE) Q4 2024 earnings results
Deere & Company (NYSE: DE) reported its fourth quarter 2024 earnings results today. Worldwide net sales and revenues decreased 28% year-over-year to $11.14 billion. Net income was $1.24 billion, or
NVDA Earnings: Nvidia Q3 profit jumps, beats estimates
NVIDIA Corporation (NASDAQ: NVDA) on Wednesday reported a sharp increase in adjusted profit and revenue for the third quarter of 2025. Earnings also topped analysts' estimates. The tech firm’s revenues
Lowe’s Companies (LOW): A few points to note about the Q3 2024 performance
Shares of Lowe’s Companies, Inc. (NYSE: LOW) rose over 1% on Wednesday. The stock has gained 8% over the past three months. The company delivered better-than-expected earnings results for the
