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
Thu, May 14, 4:08 PM
Thu, May 14, 4:08 PM
Wed, May 13, 5:35 PM
Wed, May 13, 9:02 AM
- Department store stocks are on watch after a disappointing Q1 report from Macy's and a weak read on the sector from the Department of Commerce with its April Retail Sales report.
- Department store sales fell 2.2% M/M and 5.1% Y/Y in April.
- Previously: Macy's -2.6% as sales come in light (May 13)
- Previously: Retail sales continue to slow (May 13)
- Related stocks: DDS, M, SSI, BONT, SHLD, JCP, KSS, JWN.
Tue, May 5, 2:13 PM
Tue, May 5, 9:00 AM
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.
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| Thu, Apr. 2, 12:41 PM | 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)
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)
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.
Tue, Feb. 24, 11:23 AM
- Data from NPD Group confirms that athleisure and casualwear are providing the strongest growth in the fashion industry.
- Apparel sales growth was flat Y/Y in 2014 at $208.3B.
- Footwear sales +2% to $62B.
- Accessories +2% to $52.7B.
- Categories with strong demand included sports bras, polo/golf/rugby tops, children's footwear, sports jerseys, handbags, leggings, and jewelry accessories.
- NPD says an "underlying sense of rebellion" driven by millennials is a major factor in the sector.
- Apparel/footwear stocks: CROX, DECK, WWW, SHOO, SKX, SCVL, BWS, FL, FINL, NKE, KATE, ANN, LULU, PVH, VNCE, CRI, UA, HBI, VFC, COLM, GIL, SQBG, JCP, KSS, DDS, M, JWN, ARO, AEO, ANF, WTSL, TLYS, CACH, ZUMZ, PSUN, EXPR, BKE, GIII, SQBG, HBI, VRA, ICON, BWS, PERY, DXLG, BONT, GES, URBN, RL,GIL, OXM, HBI, VNCE, PERY, ICON.
Fri, Feb. 20, 9:52 PM
- Some false alarms earlier, but the AP reports (and union spokesmen and the PMA started confirming) that agreement has been reached with West Coast dockworkers.
- The deal would end a nine-month negotiation that has led to significant slowdowns at 29 West Coast U.S. ports. Labor Secretary Thomas Perez urged the PMA and union workers to come to agreement today.
- The contract still needs union ratification.
- Affected furniture stocks: RH, PIR, HVT, BBBY, ETH, HOFT, OTCQB:BEST, W, LZB, OTCPK:LEFUF, BSET.
- Apparel stocks: KATE, ANN, LULU, PVH, VNCE, CRI, UA, HBI, VFC, COLM, GIL, SQBG, JCP, KSS, DDS, M, JWN, ARO, AEO, ANF, WTSL, TLYS, CACH, ZUMZ, PSUN, EXPR, BKE, GIII, SQBG, HBI, VRA, ICON, SHOO, BWS, PERY, DXLG, BONT, GES, URBN, RL,GIL, NKE, OXM, HBI, VNCE, PERY, ICON, FL.
- Previous coverage of the slowdown
Fri, Feb. 20, 6:27 PM
- Nordstrom (NYSE:JWN) powered steadily higher through today's session to finish with a 6% gain despite reporting worse than expected Q4 earnings, as investors apparently were excited about the 9% Y/Y gain in revenue to $4.04B.
- JWN is "emerging as the most customer friendly, friction-less shopping experience... it’s the top-line results that we think investors are reacting to," Piper Jaffray's Neely Tamminga told CNBC.
- JWN is very focused on return on investments, Tamminga says, expecting to continue to see ROIC improvements as it unveiled a 60% increase in capital spending this year.
- Also, Deutsche Bank maintained its Buy rating and said the new wave of spending will help drive compounded annual sales growth of more than 7% during the next five years.
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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