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Nov. 12, 2015, 4:12 PM
- Nordstrom (NYSE:JWN): Q3 EPS of $0.57 misses by $0.15.
- Revenue of $3.24B (+3.2% Y/Y) misses by $130M.
- Shares -15.69%.
Nov. 12, 2015, 11:31 AM
- Kohl's (NYSE:KSS) is up 6.5% after reporting some success with strategic initiatives.
- Despite a year-over-year drop in Q3 profit, on a sequential basis the recent results looked stronger.
- J.C. Penney (JCP +3.4%), Nordstrom (JWN +2.3%), and Dillard's (DDS +3.5%) are all solidly higher after selling off earlier in the week. The trio have a higher U.S. concentration than Macy's.
- Previously: Kohl's breaks out after earnings beat (Nov. 12 2015)
Nov. 11, 2015, 5:35 PM
Nov. 11, 2015, 8:28 AM
- The department store sector could see an impact after Macy's drops guidance sharply.
- CEO Terry Lundgren sent a shiver across the industry by saying Macy's will take markdowns to clear inventory ahead of the crucial holiday season. Macy's reported soft U.S. traffic and sales in Q3.
- Kohl's (NYSE:KSS), Dillard's (NYSE:DDS), and Nordstrom (NYSE:JWN) are on watch. Perhaps an outlier, J.C. Penney is higher in early action after tipping a strong 6% comp in Q3.
- Previously: Macy's lower after U.S. sales slump and nixing REIT (Nov. 11 2015)
- Previously: Retailers eye inventory levels with Black Friday 17 days away (Nov. 10 2015)
Nov. 10, 2015, 8:31 PM
- The headaches continue for a large part of the retail sector impacted by a slower pace of sales than anticipated this fall.
- Warmer weather than normal have held back outerwear and winter clothing demand, while mall traffic continues to be underwhelming.
- The high level of unsold inventory on shelves at retail chains is likely to lead to more promotions and discounts heading into the crucial Black Friday period, observes the WSJ. That trend could hurt manufacturers and sellers alike.
- Related ETFs: XLY, XRT, VCR, RTH, RETL, IYK, FXD, PEJ, FDIS, RCD, PMR, UGE, SZK.
- Related stocks: FL, FINL, KORS, COH, DSW, DKS, SKX, JCP, M, SHLD, KSS, JWN, TJX, ROST, BONT, AEO, ANF, ARO, CAL, CROX, SMRT, BKE, CTRN, GPS, LB, RL, PVH.
Nov. 9, 2015, 10:15 AM
- Department store stocks are off to a rough start with earnings coming into focus this week. Macy's (M -5.5%), J.C. Penney (JCP -4.2%), Kohl's (KSS -4.9%), Dillard's (DDS -3.3%), and Nordstrom (JWN -3.9%) are all sharply lower.
- Retailers Target (TGT -2.7%), Costco (COST -1.5%), TJX Companies (TJX -2.9%), The Children's Place (PLCE -4.8%), L Brands (LB -4.4%), and Wal-Mart (WMT -0.9%) are also below broad market averages with earnings reports due to roll in this week and next.
- The S&P Retail ETF (NYSEARCA:XRT) is down a crisp 2.0%.
Nov. 2, 2015, 5:33 PM
Oct. 14, 2015, 10:34 AM
- Nordstrom (JWN -1%) plans to hire 11,800 workers in the U.S. and Canada for the holiday season.
- The hiring tally includes 1,600 workers to support e-commerce operations.
Oct. 7, 2015, 9:14 AM
Oct. 2, 2015, 8:09 AM
- Cowen backs its Outperform rating on Nordstrom (NYSE:JWN) after digesting the company's completion of its credit card sale and unveiling of a $4.85/share special dividend.
- The investment firm thinks Nordstrom's shareholder-friendly approach will attract more buyers.
- Previously: Nordstrom sells credit card porfolio for $2.2B; sets buyback, dividend (Oct. 01 2015)
- JWN +3.64% premarket to $74.00.
Oct. 1, 2015, 4:31 PM
- Nordstrom (NYSE:JWN) has moved up 4.9% in after-hours trade, as it's wrapped up the sale of its credit card portfolio for $2.2B, in a long-term deal with TD Bank (NYSE:TD).
- TD will be the exclusive issuer of Nordstrom brand Visa and private label cards.
- Net proceeds of the sale are about $1.8B after some $325M in debt reduction, and transaction costs. Nordstrom's putting that to work via a $1B buyback program and a special cash dividend of $4.85/share, payable Oct. 27 (about $900M total dividend).
Aug. 28, 2015, 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.
Aug. 19, 2015, 4:14 PM
- Nordstrom (NYSE:JWN) declares $0.37/share quarterly dividend, in line with previous.
- Forward yield 1.88%
- Payable Sept. 15; for shareholders of record Aug. 31; ex-div Aug. 27.
Aug. 14, 2015, 5:40 PM
Aug. 14, 2015, 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)
Aug. 14, 2015, 9:14 AM
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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