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Nordstrom Beats Q3 Expectations, Lowers Guidance

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Nordstrom, Inc. (NYSE: JWN) reported earnings Thursday for its third quarter ended November 1, 2014. Revenues came in at $3.14 billion, slightly above with estimates of $3.10 billion and above the $2.88 billion reported in the year-ago period.

Earnings per diluted share were $0.73, above estimates of $0.71. This represented an increase of 5.8 percent, compared with earnings per diluted share of $0.69 for the third quarter ended November 2, 2013.

During the third quarter, the company opened three full-line stores, including its first store in Canada, and 16 Nordstrom Rack stores, and acquired Trunk Club, which contributed to net sales growth of 8.9 percent compared with the same period last year. Comparable sales increased 3.9 percent, which generally reflected consistent trends throughout the year.

The company updated its annual outlook for earnings per diluted share to $3.70 to $3.75, from its prior outlook of $3.80 to $3.90. This incorporated the acquisition of Trunk Club, which is expected to reduce earnings per diluted share by approximately 3 percent in fiscal 2014.

Nordstrom traded at $74.83 in the extended session, up 2.16 percent.

Posted-In: Earnings News Guidance After-Hours Center

 

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