Nordstrom : Free Post Earnings Research Report: Nordstromís Sales Jumped 5.8%; EPS Surged 37.8%
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LONDON, UK / ACCESSWIRE / June 14, 2018 / If you want access to our free earnings report on Nordstrom, Inc. (NYSE: JWN), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=JWN. The Company reported its first quarter fiscal 2018 operating and financial results on May 08, 2018. The department store chain outperformed top- and bottom-line expectations. Additionally, the Company updated its guidance for the full fiscal year 2018. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Earnings Highlights and Summary
For the first quarter ended May 05, 2018, Nordstrom's net sales increased 5.8% to $3.56 billion compared to $3.35 billion in the quarter ended April 29, 2017. This reflected an increase of approximately 250 basis points (bps), primarily due to the shift of a Nordstrom Rewards loyalty event into Q1 2018 relative to Q2 2017. The Company's revenue numbers beat analysts' estimates of $3.47 billion.
For Q1 2018, Nordstrom's comparable sales increased 0.6% on a y-o-y basis. The Company's sales from Nordstrom Rewards customers represented 53% of the total sales in the reported quarter compared to 47% in the year ago same period. For Q1 2018, Nordstrom increased sales enabled through digital capabilities by 18% on a y-o-y basis. Digitally-enabled sales represented 29% of the total sales in the reported quarter, up from 25% in Q1 2017.
During Q1 2018, Nordstrom's gross profit as a percentage of net sales was 34.1%, decreasing 21 bps versus the year ago comparable period. This reflected higher occupancy expenses related to the US and Canada Rack openings, in addition to planned pre-opening expenses associated with the Nordstrom Men's Store NYC.
Nordstrom's earnings before interest and taxes (EBIT) were $153 million, or 4.4% of net sales, in Q1 2018 compared to $151 million, or 4.6% of net sales, in Q1 2017.
For Q1 2018, Nordstrom reported earnings of $87 million, or $0.51 per diluted share, compared to $63 million, or $0.37 per diluted share, in Q1 2017. The Company's results for Q1 2017 included an interest expense charge of $18 million, or $0.06 per share, related to a debt refinancing. Nordstrom's earnings exceeded Wall Street's estimates of $0.42 per share.
As of May 05, 2018, Nordstrom's cash and cash equivalents totaled $966 million compared to $1.18 billion as of February 03, 2018.
During Q1 2018, Nordstrom repurchased 0.3 million shares of its common stock for $13 million. A total capacity of $401 million remained available under its existing share repurchase board authorization.
To date in FY18, Nordstrom opened eight stores and closed one store.
For the full fiscal year 2018, Nordstrom is forecasting net sales to be in the range of $15.2 billion to $15.4 billion. The Company is expecting EBIT to be in the band of $895 million to $940 million, and earnings per share to be in the range of $3.35 to $3.55.
Stock Performance Snapshot
June 13, 2018 - At Wednesday's closing bell, Nordstrom's stock declined 2.72%, ending the trading session at $51.49.
Volume traded for the day: 2.02 million shares, which was above the 3-month average volume of 1.96 million shares.
Stock performance in the last month ? up 4.40%; previous three-month period ? up 4.06%; past twelve-month period ? up 11.02%; and year-to-date ? up 8.67%
After yesterday's close, Nordstrom's market cap was at $8.54 billion.
Price to Earnings (P/E) ratio was at 17.28.
The stock has a dividend yield of 2.87%.
The stock is part of the Services sector, categorized under the Apparel Stores industry.
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