Fri, Aug. 28, 1:22 PM
- Online retailer Bonobos has lost its CEO after just a three-month stint.
- Co-founder Andy Dunn will replace Fran Della Badia.
- NYC-based Bonobos has 19 physical stores open where shoppers can try on different lines of clothing, although orders are still processed online.
- Nordstrom (NYSE:JWN) was an early investor in Bonobos.
Wed, Aug. 19, 4:14 PM
Fri, Aug. 14, 5:40 PM
Fri, Aug. 14, 12:35 PM
- Nordstrom (JWN +5.3%) looks ripe to turn out a solid Q3 and Q4, reasons JPMorgan.
- A new store in Canada and some easier sales comparables set up the department store chain for two earnings pleasers.
- The company can also use the $1.8B from the sale of its credit card portfolio to buy back more shares, notes JP.
- Stifel Nicolaus lauds Nordstrom management for a "consistent" clearance activity strategy across channels.
- Previously: Nordstrom EPS of $1.09 (Aug. 13 2015)
- Previously: Nordstrom's Q2 comp tops peers, shares +6% (Aug. 13 2015)
Fri, Aug. 14, 9:14 AM
Thu, Aug. 13, 5:39 PM
Thu, Aug. 13, 4:52 PM
- Nordstrom (NYSE:JWN) reports comparable-store sales increased 4.8% in Q2.
- Women's apparel and cosmetics were categories standing out with strong demand during the quarter.
- Online sales rose 20% Y/Y.
- Off-price sales were up 16%.
- Gross profit rate -6 bps to 35.3%.
- SG&A expense rate +86 bps to 29.1%.
- Inventory ended the quarter up 11% Y/Y on a ramp-up ahead related to the Trunk Up and Canada business.
- Previously: Nordstrom EPS of $1.09
- JWN +5.51% after hours.
Thu, Aug. 13, 4:12 PM
Thu, Aug. 13, 8:50 AM
- The furniture and home furnishing stores category RH, PIR, HVT, BBBY, ETH, HOFT, OTCPK:BEST, W, LZB, OTCPK:LEFUF, BSET, WSM, RH, KIRK outperformed in today's report on retail sales.
- Sales were up 0.8 Y/Y and 6.1% Y/Y in July for the housing-related category.
- Department stores (KSS, JCP, SHLD, JWN, M) showed sluggish traffic trends again, sales were down 0.8% M/M and slumped 2.7% Y/Y.
- Sales in the food services category were up a solid 9.0% Y/Y.
- U.S. Census Bureau Retail Sales report (.pdf)
- Previously: July U.S. Retail Sales: +0.6% (Aug. 13 2015)
Wed, Aug. 12, 5:35 PM
Mon, Jul. 27, 9:17 AM
Fri, Jul. 17, 3:09 PM
- Nordstrom (JWN -1.1%) is out near the front of the retail sector on adopting the use of text messages to purchase recommended products.
- Customers that have opted in for the Nordstrom program can send a simple text message back to purchase an item after receiving an alert from a salesperson.
- Nordstrom's broader shop by text program has rolled out smoothly this year, according to most accounts.
Tue, Jul. 14, 8:48 AM
- U.S. retail sales were held back in June due in part to weak clothes buying trends.
- Clothing/clothing accessories stores dropped 1.5% M/M, while department store showed a 0.6% decline.
- On a year-over-year scan, department stores sales were off 1.7%.
- The numbers would probably look even weaker if sportswear and shoes were backed out of the broad categories.
- Previously: June Retail Sales miss expectations (Jul. 14 2015)
- Related stocks: M, KSS, JWN, DDS, JCP, LB, TLYS, SHLD, TJX, BONT, SSI, OTCPK:BLKIA.
Thu, Jun. 4, 7:06 AM
- Credit Suisse downgrades department store stocks in a broad swipe at the sector.
- Nordstrom (NYSE:JWN) is moved by CS to a Neutral rating from Outperform.
- Dillard's (NYSE:DDS) is taken to Underperform from Neutral.
- The investment firm also warns that upside on current valuation is limited for Bon-Ton Stores (NASDAQ:BONT), J.C. Penney (NYSE:JCP), Kohl's (NYSE:KSS), Macy's (NYSE:M), and Stage Stores (NYSE:SSI).
- The sector picked up some steam earlier this week off REIT enthusiasm.
- Previously: REIT is the word in retail (Jun. 02 2015)
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)
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
JWN vs. ETF Alternatives
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 Nordstrom.com and HauteLook. It has two reportable segments: Retail and Credit.
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