Earnings Preview: Nordstrom

| About: Nordstrom Inc. (JWN)
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Nordstrom (NYSE:JWN) is expected to report Q2 earnings after the market close on Thursday, August 11 with a conference call scheduled for 4:45 pm ET.


Analysts are looking for EPS of 74c on revenue of $2.71B. The consensus range is 69c-77c for EPS, and $2.61B-$2.87B for revenue, according to First Call. In May, Nordstrom lowered its FY11 EPS view to $2.80-$2.95 from its prior $2.95-$3.10 view vs. consensus $3.05 and forecast FY11 SSS up 2%-4%. During the quarter, Nordstrom reported June SSS up 7.9% and July SSS up 6.6%. The company forecast Q2 sales $2.72B and said Q2 SSS increased 7.3%. With solid sales gains, department stores are staging a comeback that's expected to carry them into the fall shopping season, the Wall Street Journal recently reported. Additionally, according to NPD Group estimates, apparel sales at factory outlets rose 17.8% for the 12 months that ended in April. The New York Times says luxury retailers' business is booming, as wealthy people are again buying large amounts of very expensive products.