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Nordstrom Inc. (JWN) Tanks On Q1 Earnings, Revenue Miss

Nordstrom Inc. (JWN) just released its first quarter fiscal 2016 earnings results, posting earnings of $0.26 per share and revenue of $3.192 billion.  

Currently, JWN has a Zacks Rank #4 (Sell), but it is subject to change following the release of the company’s latest earnings report. Here are 5 key statistics from this just announced report below.

JWN:                                        

1. Missed earnings estimates. The company posted earnings of 26 cents, missing our Zacks Consensus Estimate of $0.45.

2. Missed revenue estimates. The company saw revenue figures of $3.192 billion, falling short of our estimate of $3.293 billion.

3. The company now expects net sales to increase by just 2.5% to 4.5% for fiscal 2016. Its previous expectations had net sales increasing within a range of 3.5% to 5.5%.

4. Nordstrom also adjusted its fiscal 2016 earnings expectations. The company now expects earnings to come in at $2.50 to $2.70, well below its previously announced range of $3.10 to $3.35.

5. JWN was down $5.50, or 12.17%, to $39.70 as of 4:20 PM ET in after hours trading shortly after its earnings report was released.

Here’s a graph that looks at JWN’s latest earnings performance:

 

 

 

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 onNordstrom’s latestquarterly earnings report!

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