Department store chain Nordstrom (JWN) saw its shares jump over 5% during the extended trading on Thursday, after reporting better-than-expected fourth quarter earnings. The Seattle, Washington-based firm reported earnings of $1.48 per share helped by lower income tax expenses, which came in better than $1.42 per share projected by analysts.
Revenue for the quarter, meanwhile, rose 3 % to $4.48 billion, narrowly missing analysts’ estimate of $4.63 billion. Comp-store sales, one of the key metrics to watch, edged up 0.1%.
In Full-Price, comp sales rose 1.6%, primarily driven by softer traffic trends in full-line stores. Off-Price sales reflected continued momentum with comparable sales hike of 4%.
Looking ahead into the full year 2019, Nordstrom expects sales to grow in the range of 1-2%. Diluted EPS is expected between $3.65 and $3.90.
JWN stock has declined 7.8% in the trailing 52 weeks and is almost flat since the start of this year.
Earlier this week, rival Macy’s Inc (M) reported a 45% dip in earnings for the fourth quarter hurt by a lackluster holiday season. The quarterly results exceeded analysts’ expectations but the company guided full-year 2019 earnings below the consensus estimates.
Earnings Transcript: Get access to timely and accurate verbatim transcripts that are published within hours of the event.
Most Popular
CL Earnings: Key quarterly highlights from Colgate-Palmolive’s Q2 2024 financial results
Colgate-Palmolive Company (NYSE: CL) reported its second quarter 2024 earnings results today. Net sales increased 4.9% year-over-year to $5 billion. Organic sales increased 9%. Net income attributable to Colgate-Palmolive Company was $731
Key takeaways from Visa’s Q3 2024 earnings report
Credit card behemoth Visa, Inc. (NYSE: V) this week reported mixed results for the June quarter, with earnings matching expectations and sales slightly missing the view. Both numbers grew in
Southwest Airlines (LUV): A look at the airline’s performance in Q2 2024
Shares of Southwest Airlines Co. (NYSE: LUV) were up over 6% on Thursday after the company beat earnings estimates for the second quarter of 2024. The stock has gained 4%