Kohl’s, Nordstrom Disappoint, Dillard’s Shines (KSS, JWN, DDS, M, SKS, JCP)

Lost in the last night’s commotion over the $2 billion loss at JPMorgan Chase & Co. (NYSE: JPM) were weak reports from retail Nordstrom Inc. (NYSE: JWN), Kohl’s Corp. (NYSE: KSS), and Dillard’s Inc. (NYSE: DDS). Kohl’s reported EPS of $0.63, better than the consensus estimate of $0.61 on revenue of $4.2 billion. Nordstrom reported EPS of $0.70 versus a consensus estimate of $0.75. Dillard’s beat EPS estimates by $0.18, at $1.85.

Macy’s Inc. (NYSE: M) reported earnings earlier this week and beat estimates on both the top and bottom lines. The company’s stock still got beaten down on a weak forecast, and that is what happened to both Nordstrom and Kohl’s as well. Saks Inc. (NYSE: SKS) reports next Wednesday and the consensus estimates call for EPS of $0.18 on revenues of $764.4 million. J.C. Penney Co. Inc. (NYSE: JCP) also reports next Wednesday and is expected to post an EPS loss of -$0.10 on revenues of $3.48 billion.

A beat, though, doesn’t look like it will mean much. What matters now to investors is guidance. Macy’s guided full-year EPS below the consensus estimate and got whacked. Kohl’s guided second-quarter EPS to $0.96-$1.02, below the consensus estimate of $1.11. Nordstrom reiterated its full-year EPS guidance at $3.30-$3.45, below the consensus estimate of $3.48. That’s just not good enough. Dillard’s did the smart thing and did not offer any information on guidance.

Kohl’s shares are down -0.4% just before noon today, at $48.47 in a 52-week range of $42.14-$57.39. Nordstrom’s shares are down -2.8% at $52.02 in a 52-week range of $37.28-$57.75.

Dillard’s shares are up 8.3% at $71.70, after posting a new 52-week high of $71.97 earlier this morning. The previous range was $38.99-$67.22. Dillard’s same-store sales report for May could reinforce the company’s new growth pattern — or turn it south again. Dillard’s offered no hints, so all’s well today.

Paul Ausick