Nordstrom, Inc. JWN is scheduled to report its fourth-quarter results on Thursday after market close. Analysts are projecting the high-end fashion retailer to earn $1.35 per share on revenue of $4.01 billion.
Speaking to Benzinga, TD Ameritrade Chief Strategist JJ Kinahan said that Nordstrom's earnings report will relate to Wal-Mart Stores, Inc. WMT.
"One of the things I want to look for in Nordstrom is are we seeing the consumers move up in quality," Kinahan told Benzinga. "If Wal-Mart is flat, but Target Corporation TGT is up, that tells me they want from Wal-Mart to Target, or Target to Macy's, Inc. M or Macy's to Nordstrom. So what you really want to see is Nordstrom really beating on same-store sales."
Kinahan said there exists signs that the quality of merchandise that consumers are buying has improved, a fact which may not necessarily be reflected in overall retail sales figures.
The strategist also noted that he expects a $3.40 move in shares of Nordstrom post earnings and that he observed activity in the $80 calls recently.
Jayson Derrick and Brianna Valleskey contributed to this report.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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