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Nordstrom Posts Q1 Earnings Beat, Same-Store Sales Slip 0.8%

Nordstrom Inc. JWN just released its first quarter fiscal 2017 financial results, posting earnings of 37 cents per share and revenues of $3.3 billion. Currently, JWN is a #3 (Hold) on the Zacks Rank, and is down 2.64% to $44.99 per share in trading shortly after its earnings report was released.


Beat earnings estimates. The company posted earnings of 37 cents per share, soaring past the Zacks Consensus Estimate of 27 cents per share. Excluding one-time items, earnings came in at 43 cents per share.

Matched revenue estimates. The company saw revenues of $3.3 billion, coming in-line with our consensus estimate of $3.36 billion and increasing 2.7% year-over-year. Online sales were 24% of total net sales, thanks to 11% growth at and 19% growth at

Total comparable sales decreased 0.8%. Across U.S. full-line stores and, the top-performing merchandise categories were Men's and Women's Apparel. The West was the top-ranking U.S. geographic region.

Retail gross profit, as a percentage of net sales, of 34.3% increased 7 basis points compared with the same period in fiscal 2016. This reflected improved gross margin performance in the full-price business, partially offset by increased markdowns in the off-price business.

Nordstrom reiterated its annual outlook for earnings per diluted share of $2.75 to $3.00, net sales increase of 3 to 4%, and approximately flat comparable sales.

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.

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