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Nordstrom (JWN) Posts Q3 Earnings and Revenue Beats

Nordstrom, Inc. (JWN) just released its third-quarter financial results, posting earnings of 67 cents per share and revenues of $3.63 billion.  

Currently, JWN is a Zacks Rank #3 (Hold) and is down 4.02% to $38.42 per share in after-hours trading shortly after its earnings report was released. JWN closed about 4.5% higher on Thursday.

Nordstrom:

Beat earnings estimates. The company posted earnings of $0.67 per share, beating the Zacks Consensus Estimate of $0.63.

Beat revenue estimates. The company saw revenue figures of $3.63, beating our consensus estimate $3.60 billion.

Comparable-store sales were down 0.9% in the quarter. Nordstrom opened 19 stores, relocated three stores, and closed two stores in the quarter.

Looking ahead, Nordstrom expects to report approximately flat comps for the full fiscal year. Net sales are expected to increase by about 4%. This guidance has been left unchanged, however, management did update its earnings per share projections. The company now expects full-year earnings per diluted share to fall in the range of $2.85 to $2.95, which is slightly narrower than the previously announced $2.85 to $3.00 range.

“With a test and learn approach in finding innovative ways to improve speed, convenience and personalization for customers, the Company launched Nordstrom Local, its latest retail concept where customers can shop and access Nordstrom services in a convenient, central location,” the company noted.

Here’s a graph that looks at Nordstrom’s earnings surprise history:

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.

Check back later for our full analysis on Nordstrom’s earnings report!

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