Fri, Jun. 17, 10:03 AM
- Gap (GPS +3.7%) is back over $20 for the first time in over a month with some improved sentiment bubbling up over the retail sector.
- The retailer's +4.5% dividend yield may be luring in some buyers
- Other retail movers ahead of broad averages in early action include Nordstrom (JWN +2.3%), Tailored Brands (TLRD +3.6%), Pier 1 Imports (PIR +3.6%), Best Buy (BBY +2.8%), and DSW (DSW +2.5%). Perhaps it's coincidence, but all those companies boast a dividend yield of over 3%.
Fri, May 13, 12:45 PM
Fri, May 13, 9:17 AM
Fri, May 13, 7:40 AM
- Alongside a bottom line miss, total company sales rose 2.5% Y/Y, but comp sales fell 1.7%.
- 1M shares repurchased in Q1 for $50M. Another $761M remains in buyback authorization.
- Full-year comp sales guidance is cut to a range of negative 1% to positive 1% from +3.5-+5.5%, and EPS to $2.50-$2.70 from $3.10-$3.35.
- Piper Jaffray keeps its Neutral rating and cuts the PT to $45 from $62. "We continue to believe Nordstrom is on the right customer-centric, channel-agnostic path ... That said, given a muted outlook for the balance of the year we believe a Neutral rating is appropriate."
- Cowen defends, noting the quarter was a tough one for full line and online, but rack showed some improvement. Analyst Oliver Chen keeps an Outperform rating, though cutting the PT to $44 from $52.
- JWN -16.5% premarket to about a five-year low of $37.75.
Thu, May 12, 5:37 PM
Wed, May 11, 8:32 AM
- The department store sector is on watch for volatility after Macy's issues an alarming warning on sales trends.
- "We are seeing continued weakness in consumer spending levels for apparel and related categories," reads the pinpoint assessment from Macy's.
- Investors in the department store sector are already scrambling with Kohl's (NYSE:KSS) down 3.62% in premarket trading, J.C. Penney (NYSE:JCP) off 3.64%, and Nordstrom (NYSE:JWN) 2.17% lower. The damage doesn't end there with Ross Stores (NASDAQ:ROST) losing 2.6% and TJX Companies (NYSE:TJX) off by 1%. Dillard's (NYSE:DDS) and Sears Holdings (NASDAQ:SHLD) haven't opened yet.
Fri, Apr. 8, 10:17 AM
- Apparel stocks are getting hammered after Gap's latest monthly sales dud creates a new ripple of worry.
- There's a little bit of a failed feedback loop going on in the sector as teenagers/young adults skip mall visits to spend on other categories while sellers try to innovate their way out of the box. That innovation is leading to excess inventory which in turn leads to more painful discounting
- Decliners include Lululemon (LULU -1.7%), Kate Spade (KATE -1.4%), Deckers Outdoor (DECK -2.5%), Coach (COH -1.6%), Michael Kors (KORS -2.1%), Columbia Sportswear (COLM -1.8%), Carter's (CRI -1.8%), Hanesbrands (HBI -1.3%), Ascena Retail (ASNA -3.9%), Nordstrom (JWN -3.4%), Chico's FAS (CHS -4.2%), Abercrombie & Fitch (ANF -4%), Urban Outfitters (URBN -2.6%), L Brands (LB -3%), Express (EXPR -2.4%), Guess (GES -2.9%), Tailored Brands (TLRD -1.9%) and Zumiez (ZUMZ -2.8%).
- Now read Sell Your Apparel Stocks
Thu, Apr. 7, 12:55 PM
- Mall retailers are trading off today after the news on traffic trends from the small batch of monthly reporters didn't impress.
- Another potential factor was the overall gloomy tone from Pacific Sunwear's (PSUN -45.3%) bankruptcy filing on younger consumers. The retailer noted that discretionary spending from the key demographic is going to dining and technology over apparel.
- Notable decliners include J.C. Penney (JCP -5.1%), Nordstrom (JWN -4.5%), Dillard's (DDS -5.1%), Sears Holdings (SHLD -3.6%), Gap (GPS -3.8%), American Eagle Outfitters (AEO -3.9%), Urban Outfitters (URBN -3.9%), Abercrombie & Fitch (ANF -3%), Express (EXPR -2.2%), Guess (GES -2%), Bucke (BKE -10.2%), Zumiez (ZUMZ -4.4%), and Aeropostale (ARO -9.6%).
- Now read A Few Thoughts Inspired By Saturday Shopping
Fri, Mar. 4, 5:40 PM
Tue, Feb. 23, 9:42 AM
- Home Depot (HD +2.7%) and Lowe's (LOW +0.3%) are both higher in early trading after warm weather across the U.S. in Q4 appears to have extended fall product buying from consumers past the normal time period.
- Home Depot's 9% gain in Q4 comparable-store sales blasted past the consensus estimate for a 5% rise. That mark bodes well for Lowe's which reports tomorrow.
- A bigger trend is also in play. The home improvement chains are benefiting from a general willingness by consumers to spend on house projects and accessories over apparel. The department store sector (JCP, KSS, JWN, M, SHLD) in particular is being hard hit by the pronounced shift in consumer preferences as comparable-store sales growth continues to retreat despite some store weaning.
- Previously: Home Depot beats by $0.07, beats on revenue (Feb. 23 2016)
- Previously: Home Depot +2.6% post record Q4 results (Feb. 23 2016)
Fri, Feb. 19, 9:20 AM
- Execs with Nordstrom (NYSE:JWN) discussed the "high cost" of e-commerce during the firm's earnings call yesterday (h/t Barbarian Capital).
- CFO Michael Koppel noted that e-commerce now reps 20% of all sales at the company, but requires increasing outlays for tech, marketing, and fulfillment.
- "With our increased investments to gain market share along with the changing business model, expenses in recent years have grown faster than sales," stated Koppel.
- A higher mix of e-commerce can dent margins and typically reduces the level of impulse buying.
- Nordstrom earnings call transcript
- JWN -8.92% premarket to $48.00 after posting Q4 results last night.
Fri, Feb. 19, 9:15 AM
Thu, Feb. 18, 5:44 PM
Thu, Feb. 18, 4:25 PM
- Nordstrom (NYSE:JWN) tilts lower in AH trading after coming up short with Q4 results.
- The company's gross profit rate fell 180 bps to 34.9% of sales, due chiefly to a higher level of promotions.
- Comparable-store sales were up 0.2% for full-line stores. The off-price comp was +3.6%.
- Sales off of Nordstrom.com improved 11% Y/Y.
- Nordstrom sees sales increasing in a range of 3.5% to 5.5% this year. The outlook for full-year EPS is $3.10 to $3.35 vs. $3.53 consensus. A higher mix of online and Rack sales may be a factor.
- Previously: Nordstrom misses by $0.05, misses on revenue (Feb. 18)
- JWN -6.3% AH to $49.40.
Tue, Feb. 9, 11:19 AM
- Nordstrom's (JWN -0.5%) new marketing campaign will include running TV ads for the first time in three years.
- In a bid to reel in younger consumers, the department store chain will also hit digital and social channels with advertising.
- A new national brand campaign was announced yesterday.
- Shares of Nordstrom are down 39% from their 52-week high of $83.16 set last March.
- Previously: Nordstrom launches new brand campaign (Feb. 08 2016)
Thu, Jan. 7, 9:25 AM
- Morgan Stanley downgrades Nordstrom (NYSE:JWN) to an Underweight rating due to the "secular decline" in the department store sector as e-commerce cuts into margins.
- The investment firm like Nordstrom's best-in-class positioning, but is concerned over recent channel checks indicating higher markdown activity.
- JWN -1.96% to $47.55.
Nordstrom, Inc. retails apparel, shoes, cosmetics and accessories. The company owns and operates stores for shoes, accessories for men, women and children. It operates through two reportable segments: Retail and Credit. The Retail segment includes 'Nordstrom' full-line stores, off-price... More
Industry: Apparel Stores
Country: United States
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