Nordstrom Inc. (JWN - Free Report) just released its fourth quarter fiscal 2016 earnings results, posting earnings, before non-recurring items, of $1.37 per share and revenues of $4.2 billion. Currently, JWN is a #4 (Sell) on the Zacks Rank, and is up 3.5% to $45.51 per share in trading shortly after its earnings report was released.
Beat earnings estimates. The company posted adjusted earnings of $1.37 per share, beating the Zacks Consensus Estimate of $1.22 per share. This number excludes 22 cents from non-recurring items.
Missed revenue estimates. The company saw revenue figures of $4.2 billion, lagging behind our consensus estimate of $4.365 billion but increasing 2.4% year-over-year.
Total comparable sales decreased 0.9%. The top-performing merchandise categories were Women’s Apparel and Beauty, while the younger customer-focused departments in Women’s Apparel continued to outperform, reflecting strength in denim and collaborations with new and emerging limited distribution brands.
Nordstrom Rack net sales increased 10.7% and comparable sales increased 4.3%.
Looking ahead to fiscal 2017, Nordstrom expects net sales to see a 3% to 4% increase, with approximately flat comparable sales. Earnings per diluted share are expected in the range of $2.75 to $3.00.
Here’s a graph that looks at Nordstrom’s price, consensus, and EPS surprise:
Nordstrom, Inc. Price, Consensus and EPS Surprise
Nordstrom, Inc. Price, Consensus and EPS Surprise | Nordstrom, Inc. Quote
Nordstrom, Inc. is one of the nation's leading fashion specialty retailers, 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.
Comments
Log in or sign up to join the conversation.