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Retail

High-End Retail Braces For Nordstrom Earnings (JWN)

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By Douglas A. McIntyre Published
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Nordstrom Inc. (NYSE: JWN) is set to report earnings after the close today.  First Call has the following estimates:

Time                        EPS         $REV
Q4-2008 (Jan.)   $0.88    $2.53 Billion
Q1-2009 (Apr.)    $0.59    $1.99 Billion
FY-2009 (Jan.)    $2.98    $9.31 Billion

Just last week, Nordstrom hiked its dividend to $0.16 from $0.135.  It new dividend yield as of today’s price is about 1.7%.  The company saw a sharp drop in January same store sales with a 6.6% drop.  The total sales were down a total of 20.3%, and while these were affected by one less week it was still a highly noticed drop.  Sales would have supposedly been down 1.2% without the minus one week issues.

While this will be watched closely, we already had been given the preliminary quarterly revenues at $2.51 Billion on a total Q4 same store sales of -0.7%.  Investors will therefore most likely be watching for any comments on guidance.

Nordstrom stock is very close to its 50-day moving average of $35.29, which is only about 3% under today’s share prices.  We have already seen more than one-third of a share price haircut as the 52-week trading range is $28.00 to $59.50.

Jon C. Ogg
February 25, 2008

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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