Nordstrom (JWN) is expected to report Q2 earnings after the market close on Thursday, August 9, with a conference call scheduled for 4:45pm ET.
Analysts are looking for a profit of 74c on revenue of $3.01B. The consensus range is 70c-80c for EPS, and revenue of $2.97B-$3.09B, according to First Call. Though Nordstrom reported Q1 EPS that missed consensus estimates, its revenue beat estimates and the company backed its FY12 EPS view of $3.30-$3.45, consensus $3.45, and guided FY12 SSS up 4%-6%. The company also said 2H gross margin would be better than 1H and said it FY12 would be the highest EBIT dollar performance ever for the company. During the quarter, Nordstrom reported June same-store sales up 8.1% and July SSS up 0.9%. On August 2, Nordstrom reported preliminary Q2 total retail sales of $2.92B, a 7.4% increase compared with the year ago period.
At the 32nd Annual Piper Jaffray Consumer Conference, Nordstrom said credit card account openings are up over 50% this year and that more consumers are shopping with mobile. The company, which added that it would like to open more stores in the U.S., forecast August "a little bit stronger" than July. Analysts and investors will listen for insight into the strength of the luxury sector, as well as whether Europe's financial crisis is having an effect on the company's business.