Companies and Brands

Nordstrom’s Results Don’t Impress (JWN)

Nordstrom Inc. (NYSE: JWN) reported second quarter EPS of $0.75 and $3.0 billion in revenues after markets closed today. EPS for the same period a year ago totaled $0.80, and last year’s revenue totaled $2.72 billion. The results compare to the Thomson Reuters consensus estimates for EPS of $0.74 and $3.02 billion in revenue.

The specialty apparel retailer raised its full-year EPS guidance to $3.40-$3.50. The consensus estimate had called for EPS of $3.45. The forecast for full-year same-store sales increased to 6%-7% above last year’s results. For the third quarter the company expects same-store sales to rise in the high single digits, while fourth quarter same-store sales are forecast to increase in the mid single digits. Gross profits are expected to decline by 20-40 basis points in the third quarter and by 5-25 basis points in the fourth quarter.

Gross profits fell by 98 basis points in the second quarter, to 36.6% compared with 37.4% in the same period a year ago.

Nordstrom also said that it intends to further accelerate the opening of its Nordstrom Rack stores. There are currently 110 of the stores in operation and the company will open 15 in 2012 and 24 in 2013. The company’s plan calls for more than 230 Nordstrom Rack stores by the end of 2016.

Shares are up about 0.75% in after-hours trading, at $55.48. The current 52-week range is $37.28-$57.75. Thomson Reuters had a consensus analyst price target of $57.95 before today’s results were announced.

Paul Ausick

Travel Cards Are Getting Too Good To Ignore (sponsored)

Credit card companies are pulling out all the stops, with the issuers are offering insane travel rewards and perks.

We’re talking huge sign-up bonuses, points on every purchase, and benefits like lounge access, travel credits, and free hotel nights. For travelers, these rewards can add up to thousands of dollars in flights, upgrades, and luxury experiences every year.

It’s like getting paid to travel — and it’s available to qualified borrowers who know where to look.

We’ve rounded up some of the best travel credit cards on the market. Click here to see the list. Don’t miss these offers — they won’t be this good forever.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.

AI Portfolio

Discover Our Top AI Stocks

Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.

You can follow him investing $500,000 of his own money on our top AI stocks for free.