Nordstrom Inc. Beats Q2 Earnings, Soars 12% On Strong Performance

Nordstrom Inc. (JWN - Analyst Report) released its Q2 2016 earnings results, posting earnings of $0.67 per share and revenue of $3.65 billion. 

Currently, Nordstrom has a Zacks Rank #2 (Buy), but it is subject to change following the release of the company’s latest earnings report. Here are 5 key facts from this just announced report below.

Nordstrom:

1. Beat earnings estimates. The company posted earnings of $0.67 per share, beating our Zacks Consensus Estimate of $0.55. 

2. Met revenue estimates. The company saw revenue figures of $3.65 billion, meeting our estimate of $3.65 billion. 

3. "Over the past several quarters, our team has been actively addressing our inventory, expense and capital, and in the second quarter, made substantial progress by bringing down inventory in-line with sales," said Blake Nordstrom, co-president of Nordstrom, Inc. "Those efforts, along with the strength of our Anniversary Sale and a great response from customers to that event, drove better than expected results for the second quarter."

4. Total Company net sales of $3.6 billion for the second quarter decreased 0.2 percent compared with net sales of $3.6 billion during the same period in fiscal 2015. Total Company comparable sales for the second quarter decreased 1.2 percent.

5. JWN was up $5.71, or 12%, to $53.27 as of 4:09 p.m. EDT in after-hours trading shortly after its earnings report was released.

Here’s a graph that looks at Nordstrom’s latest earnings performance:

NORDSTROM INC Price and EPS Surprise

NORDSTROM INC Price and EPS Surprise | NORDSTROM INC Quote

Nordstrom, Inc. is a fashion specialty retailer, with stores located in a number of states, including full-line stores, Nordstrom Racks, Faconnable boutiques, and free-standing shoe stores. Nordstrom also operates Faconnable boutiques throughout Europe. Additionally, Nordstrom serves customers through its online presence and through its direct mail catalogs.