Seeking Alpha

Nordstrom Inc. (JWN)

  • Wed, May 27, 10:58 AM
    • Investment firms have issued positive comments on the decision by Nordstrom (JWN -1.2%) to sell its credit card portfolio to TD Bank.
    • Cowen thinks the funds will go toward buybacks, dividends, and debt repayments in what should be shareholder-friendly moves.
    • Morningstar calls the strategy by Nordstrom astute, but warns the impact from the sale may already be factored into the department store operator's share price.
    • Previously: TD Bank and Nordstrom form strategic relationship (May. 26 2015)
    | Comment!
  • Tue, May 26, 9:44 AM
    • First off, TD Bank (TD -1.1%) is buying Nordstrom's (NYSE:JWN) existing U.S. Visa and private-label consumer credit card portfolio, currently totaling $2.2B in receivables. In addition, a separate long-term agreement will have TD become the exclusive U.S. issuer of Nordstrom-branded Visa and private-label consumer credit cards.
    • The first deal is expected to close in H2. Nordstrom is in the process of figuring out what to do with the proceeds, but a share repurchase or dividend seems like a possibility.
    • Source: Press Release
    | 1 Comment
  • Thu, May 14, 4:37 PM
    • Comparable store sales rose 4.4% for Nordstrom (NYSE:JWN) in Q1, a mark that topped the level of several of its peers.
    • Online sales were up 20% for the company during the quarter.
    • Gross profit rate +7 bps to 35.9%.
    • SG&A expense rate +141 bps to 31.2%.
    • 2015 guidance: Revenue growth of 7% to 9% expected. EPS of $3.65-$3.80 vs. $3.79 consensus.
    • JWN +0.2% after hours
    | Comment!
  • Thu, May 14, 4:08 PM
    • Nordstrom (NYSE:JWN): Q1 EPS of $0.66 may not be comparable to consensus of $0.71.
    • Revenue of $3.12B (+9.9% Y/Y) misses by $40M.
    • Shares +1.4%.
    • Press Release
    | Comment!
  • Thu, May 14, 4:08 PM
    • Nordstrom (NYSE:JWN): Q1 EPS of $0.66 may not be comparable to consensus of $0.71.
    • Revenue of $3.12B (+9.9% Y/Y) misses by $40M.
    • Shares +1.4%.
    • Press Release
    | Comment!
  • Wed, May 13, 5:35 PM
  • Wed, May 13, 9:02 AM
  • Tue, May 5, 2:13 PM
    • Nordstrom (NYSE:JWN) declares $0.37/share quarterly dividend, in line with previous.
    • Forward yield 1.96%
    • Payable June 12; for shareholders of record May 29; ex-div May 27.
    | Comment!
  • Tue, May 5, 9:00 AM
    • Nordstrom (NYSE:JWN) is testing a curbside pickup program in 20 of its stores.
    • The new service gives customers the ability to pick up online orders within an hour of purchase.
    • Dedicated parking spots in mall parking lots are used for the pickup of ordered products.
    | 1 Comment
  • Mon, Apr. 20, 7:24 AM
    • Nordstrom (NYSE:JWN) faces accusations in a new lawsuit that millions of dollars have been diverted to the Nordstrom family through the use of jets and other perks.
    • The legal action has been filed on behalf of the company and its shareholders against the Nordstrom clan which holds roughly 25% of the stock in the department store chain.
    | 1 Comment
  • Sun, Apr. 12, 3:31 PM
    • The elitist part of the fashion world needs a wake-up call over the exclusion of plus-sizes for many lines, according to a biting op-ed piece in The Business of Fashion penned by Nicolette Mason.
    • "The largest problem is the fashion industry’s attachment to the idea that fashion should be protected for a hyper-privileged slice of the population," writes Mason.
    • Many retail analysts think the industry is missing out on maximizing revenue due to its reluctance to pull away from the older ideas on what sells.
    • Lululemon (NASDAQ:LULU), Abercrombie & Fitch (NYSE:AF), Ralph Lauren (NYSE:RL), and Prada (OTCPK:PRDSF, OTCPK:PRDSY) have been singled out in the past for missing the category.
    • Some retail brands a step ahead in promoting plus-sized apparel include Target (NYSE:TGT), Lane Bryant (NASDAQ:ASNA), Old Navy (NYSE:GPS), Nordstrom (NYSE:JWN), Torrid, Avenue Stores, and Cato (NYSE:CATO).
  • Thu, Apr. 2, 12:41 PM
    • Belk (OTCQB:BLKIB, OTCQB:BLKIA) is looking to sell itself, according to Reuters reporter Olivia Oran.
    • A deal could fetch as much as $4B.
    • Nordstrom (NYSE:JWN), Bon-Ton Stores (NASDAQ:BONT), and Macy's (NYSE:M) have been mentioned as potential buyers.
    • BLKIA +6% off the news.
    | 1 Comment
  • Tue, Mar. 10, 9:34 AM
    • Privately-owned Neiman Marcus reported revenue of $1.52B (+6%) in FQ2 and net earnings of $27.8M (-67%).
    • Comparable-store sales rose 5.6% Y/Y during the period.
    • The comp mark topped rivals Nordstrom (NYSE:JWN) which came in at 4.7% and Macy's (NYSE:M) at 2.5%, although the quarters didn't line up precisely.
    • Neiman Marcus FQ2 results (.pdf)
    | 1 Comment
  • Fri, Mar. 6, 9:41 AM
    • Nordstrom (JWN +0.3%) announces that its new store in Ontario is now open and sets a timetable for other stores in Canada.
    • One more store will be opened this year, followed by two in 2016 and one for 2017.
    • A successful launch could see the department store operator add to the expansion pace.
    • Side effects: The entry of Nordstrom in Canada could raise the profile of Kate Spade (NYSE:KATE) in the nation due to the brand's prominent positioning in Nordstrom stores.
    • Previously: Nordstrom knows how to do Canada: slow (Mar. 05 2015)
    | Comment!
  • Thu, Mar. 5, 9:49 AM
    • Nordstrom (JWN +1%) opens its second store in Canada tomorrow as the department chain takes a highly cautious approach to growth in the region.
    • The company is losing money on the Canadian venture due to the tiny scale, but is gaining valuable insight into what works and what doesn't.
    • The strategy is different than the roll-out blitz of Target and Sears which led to painful exits.
    • The Nordstrom store in Calgary has generated more sales per square foot than the company average in the U.S.
    • A launch of the Rack chain is expected in 2017.
    | Comment!
  • Tue, Feb. 24, 11:23 AM
Visit Seeking Alpha's
JWN vs. ETF Alternatives
Company Description
Nordstrom Inc operates as a fashion specialty retailer, with 290 U.S. stores located in 38 states as well as a robust e-commerce business through and HauteLook. It has two reportable segments: Retail and Credit.
Sector: Services
Industry: Apparel Stores
Country: United States