Fri, Nov. 13, 8:31 AM
- J.C. Penney (NYSE:JCP) reported a lighter than expected Q3 loss, better than expected sales growth and raised profit estimates for the year, but shares nevertheless are -3.3% premarket as other mall-based retailers have warned about weak consumer spending.
- JCP says its Q3 comparable sales at locations open for at least a year rose 6.4% Y/Y, beating expectations, but does not raise its forecast for full-year sales, reaffirming 2015 guidance for comp store sales to increase 4%-5%.
- JCP says all merchandise divisions had positive comp sales gains over last year, with men's, home, footwear, handbags and Sephora among the top performing divisions.
- Q3 gross margin rose to 37.3% from 36.6% a year earlier, helped by improvements in clearance and promotions.
- JCP says it now expects adjusted EBITDA of $645M, up from its August estimate of $620M.
- In premarket trading among peers, JWN -20.2%, TJX -4%, M -1.3%, TGT -1.5%, KSS -2%.
Thu, Nov. 12, 5:17 PM
- Nordstrom (NYSE:JWN) -19.8% AH after missing Q3 earnings estimates by a wide margin and cutting its annual forecast.
- JWN says Q3 results were below its expectations, reflecting softer sales trends that generally were consistent across channels and merchandise categories.
- JWN lowers its guidance for FY 2016 EPS to $3.40-$3.50 from its prior outlook for $3.70-$3.80 and below the $3.77 analyst consensus estimate, and lowers its revenue view to a 7.5%-8% gain and $14.1B-$14.16B vs. $14.34B consensus.
- For Q4, JWN sees EPS of $3.30-$3.40 with sales rising 7.5%-8%, down from its previous guidance for EPS of $3.85-$3.95 on a 8.5%-9.5% sales increase.
- Q3 revenue, which includes revenue from its credit cards, gained 6% Y/Y to $3.33B, while sales at established stores rose 0.9%; inventory rose 8% Y/Y.
- JWN follows Macy’s in reporting disappointing results, underscoring a broader slowdown for department stores as consumers spend less of their money on apparel and accessories; after hours, M -1.6%, TGT -1.9%, JCP -1.4%, TJX -4%, BURL -5.3%, KSS -1.3%.
Thu, Nov. 12, 4:12 PM
Wed, Nov. 11, 5:35 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
Wed, Aug. 12, 5:35 PM
Thu, May 14, 4:08 PM
Thu, May 14, 4:08 PM
Wed, May 13, 5:35 PM
Thu, Feb. 19, 4:22 PM
- Nordstrom (NYSE:JWN) reports comparable-store sales increased 4.7% in Q4.
- Online sales +19% during the quarter.
- Nordstrom Rack sales +7%.
- Nordstrom's gross profit rate fell 53 bps to 36.7%, influenced by a higher level of markdowns at Nordstrom Rack.
- The company's guidance of 2015 EPS of $3.65-$3.80 falls short of the consensus analyst mark of $4.12.
- Previously: Nordstrom misses by $0.03, beats on revenue
- JWN -2.2% after hours.
Thu, Feb. 19, 4:10 PM
Wed, Feb. 18, 5:35 PM
Tue, Feb. 17, 7:57 AM| Tue, Feb. 17, 7:57 AM | Comment!
Nov. 13, 2014, 4:33 PM
- Q3 earnings of $142M or $0.73 per share vs. $137M and $0.69 one year ago.
- Total comp sales growth of 3.9%; Nordstrom (NYSE:JWN) comp sales growth of 3.4%.
- Full-year EPS outlook lowered to $3.70-$3.75 from $3.80-$3.90, with part of that due to the Trunk Club acquisition that's expected to cut EPS by about 3% this fiscal year. The net sales outlook is expected to be at the top end of the previously guided 6.5-7.5% range. Comp sales are expected right in the middle of the earlier 3-4% range.
- Conference call at 4:45 ET
- Previously: Nordstrom beats by $0.02, beats on revenue
- Shares +2.3% after-hours
Nov. 13, 2014, 4:08 PM
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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