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Can Department Stores Take The Heat This Quarter?

Photo Credit: Pat Dalton

Nordstrom (JWN) Reporting: 8/10/17 AMC

The Estimize consensus calls for EPS of $0.65, two cents higher than the Wall Street’s consensus of $0.63. Currently, the Estimize community is looking for revenues of $3,734M, roughly in line with the Street’s expectation for $3,732M.

What to Watch: Retail sales and mall traffic have been plunging, there’s no way around that fact. Despite the Nordstrom family wanting to take the stock private to work on a turnaround, it has still fared better than its other retail competitors. Nordstrom is set to open its sixth Canadian store, as well as a line of its daughter store, Nordstrom Rack, in the coming months. Since Canada’s economy has seen a spike in 2017, its GDP on track to grow 3% in the next year, this could be a positive move for the company. More things impacting Nordstrom could be the downsizing of its competitors. For example, Neiman Marcus has closed three of its Last Call locations and is planning to take a look at the chain as a whole. Likewise, Hudson’s Bay, owner of Lord & Taylor and Saks Fifth Avenue are also looking to downsize as the retail market is taking a hit.

Macy’s (M) Reporting: 8/10/17 BMO

The Estimize consensus calls for EPS of $0.42, two cents lower than the Wall Street’s consensus of...