JWN was upgraded by Goldman Sachs to "buy".
Nordstrom announced that its February 2011 same-store sales increased by 7.3%. Analysts were expecting an increase of 4.2%. Same-store sales at Nordstrom full-line stores increased 9.6% and increased 1.6% at Rack stores.
JWN announced that its Q4 2010 earnings were $232 million, or $1.04 per share, an increase of 35% compared to $172 million, or 77 cents per share a year earlier. Net revenue increased 10% while comparable store sales increased 6.7%. Nordstrom expects same-store sales to rise between 2 and 4% in 2011, lower than the 8% the store experienced in 2010.
Nordstrom announced that it was raising its quarterly dividend by 15% to 23 cents per share.
Moody's upgraded Nordstrom's long-term credit rating to Baa1 from Baa2.
Nordstrom announced that its January 2011 same-store sales increased by 4.8%, beating the 2.8% that anlaysts were expecting.
Morgan Stanley upgraded JWN from "Equalweight" to "Overweight".
Nordstrom announced that its December 2010 comparable store sales increased by 8.4%, beating analysts' predictions of 3.4%. Sales increased 6.4% at Nordstrom stores, 26% online, and 7% at Nordstrom Rack stores.
Moody's announced that Nordstrom's Baa2 rating is being reviewed for a possible upgrade due to Nordstrom's higher earnings due to stronger consumer spending and success of the company's multi-channel selling approach.
JWN announced that its November 2010 same-store sales increased by 5.1%, beating the 3.8% increase that analysts were expecting. Total sales increased 8.8% to $815 million.
JWN announced that its Q3 2010 earnings were $119 million, or 53 cents per share, up 43%, from $83 million, or 38 cents per share, a year ago. Net sales and comparable store sales increased by 12% and 5.8% respectively. The company raised the lower end of its FY forecast by 10 cents and expects to earn between $2.60 and $2.65 per share. Analysts are expecting $2.64.
Nordstrom announced that its October 2010 comparable store sales increased by 3.4%, higher than the 2.7% that analysts were estimating. The company also reported that customer traffic increased for the 14th month in a row. Total sales for the month increased 9% to $662 million.
Nordstrom announced that its September 2010 same-store sales increased by 7.5%. Analysts were expecting 4.3%. Total sales for the period increased by 12.5%.
Nordstrom announced that its August 2010 comparable store sales increased by 6.3%. Sales were strongest in the company's jewelry, dresses, and women's shoes categories. Analysts were expecting a rise of 5.9%.
Nordstrom announced that its Q2 2010 net income was $146 million, or 66 cents per share, an increase of 39% from the $105 million, or 48 cents per share the company earned a year ago. Sales during the period increased 13%. The company remained cautious with its full year outlook at remained with its previously issued guidance.
Nordstrom reported that its July 2010 same-store sales increased by 7.6%, just shy of the 8.1% that analysts were expecting. Overall revenue increased by 10.5% during the period as the average amount spent per transaction increased slightly.
Nordstrom announced that its same-store sales increased by 14.1% in June 2010, compared to the 9.6% that analysts were expecting. The company attributes the gain partly to its "Half-Yearly Sale" on women's and children's clothing. Overal sales for the month increased by 19.8%.
Nordstrom announced that its May 2010 comparable store sales increased 3.7%. However, analysts were predicting a 4.8% increase.
Nordstrom announced that its Q1 2010 earnings were $116 million, or 52 cents per share, up 44% from earnings of $81 million, or 37 cents per share a year earlier. However, analysts were expecting earnings of 55 cents per share. The company's revenue grew 17% to $2.09 billion and same-store sales were up 12% for the period.
Nordstrom announced that its April same store sales rose 7.5%, beating analysts expecations of 6.2%. Net sales for the period increased 13.3% to $636 million. In Q1 2010 the company's comparable store sales rose 12%, with net sales increasing 16.7% to $1.99 billion.
Nordstrom announced that its same-store sales for March 2010 increased 16.8%. Net sales increased 21% for the month. Comparable store sales for full-line stores rose 17.6 percent, while same-store sales at Rack increased 4.7 percent.
Nordstrom announced that its February comparable store sales for the month of February rose 10.3%, beating analysts expectations of 6.2%. Total sales for the month climbed 14.5 percent to $539 million.
Nordstrom reported that its Q42009 net income was $172 million, or $0.77 per share, an increase of 152% from $68 million, or $0.31 per share during the prior year. Same-store sales for the period increased by 6.9% and net sales rose by 10.3%.
Nordstrom reported that same store sales for stores opened more than a year increased by 14% in the month of January. Sales from the month rose 16 percent to $543 million from $468 million. Analysts had expected a 5.5% increase in comp.
JWN reported that its December 2009 same-store sale for stores upen at least a year were up 7.4%. Sales rose form $1.13 billion a year ago to $1.25 billion in 2009. Analysts were only expected a rise of 2.5%.
Nordstrom announced that its November store sales, for stores open at least a year, rose 2.2%.
The company's Q3 earnings rose 17% from $71 million in Q3 2008 to $83 million in 2009. In addition net sales rose 4% despite a 1.2% decrease in same store sales. The company's earnings of 38 cents/share, although better than the same quarter last year, fell a penny short of analysts' estimates. Nordstrom also increased its ful lyear outlook from $1.50 to $1.65 per share to $1.83 to $1.88 per share.
Analysts had predicted an increase of just 3%.
JWN reported that Q2 earnings fell 26.6% to $105 million (48 cents/share) from $143 million (65 cents/share) last year. Net sales were also down 5.4% due to a 12.3% decrease in comparable store sales. However, the company raised its 2009 outlook due to the performance, which was in line with what analysts had predicted.
The Commerce Department reported that consumer spending pulled back only 0.1% in April 2009, compared to the 0.2% that economists were spending. This caused Nordstrom and other retail stocks to rocket because it could indicate that the worst of the recession has passed.
For Q4 FY2008 (ended Jan 1 2009), JWN reported a 68% decrease in net income, from $212 million in Q4 2007 to $68 million in Q4 of fiscal year 2008. The weak performance was largely caused by lowered demand for JWN's mid-to-high-end merchandise as the recession pressed consumers to cut down on discretionary spending.
Nordstrom reported a 9.6% decline in same store sales for the month of September. At the same time, the firm announced that it was lowering its earnings per share guidance to $0.32-0.37 from a previous target of $0.50 per share.
Nordstrom's net sales fell 14.1% in June 2008, as same store sales fell 18.6%, partially due to a shift of two major sales to May rather than its historical placement in June. Regardless, the company experienced higher levels of markdowns than it has in past June's and announced that it now expects to slightly miss its previous EPS outlook of $0.65-0.70 for Q2 FY08.[1]
Nordstrom reported a 12% increase in net sales for the month of May, while same store sales increased 10.9% for the month.
Nordstrom fell short of its third quarter estimate for same-store sales growth of 5%, only managing a 3.2% increase in September. The third quarter outlook was reduced to 50-53 cents compared to the previous estimate of 61-64 cents. Unseasonably warm weather in various parts of the country was named the principal culprit for slow sales.
