Nordstrom Inc. (NYSE: JWN) reported fiscal fourth-quarter financial results after the markets closed on Thursday. The company had $1.17 in earnings per share (EPS) on $4.19 billion in revenue, compared to consensus estimates from Thomson Reuters that called for $1.22 in EPS on revenue of $4.22 billion. The same period from the previous year had $1.32 in EPS on $4.04 billion in revenue.
Fourth quarter net sales increased 5.2% and comparable sales increased 1.0%, consistent with a comparable sales increase of 0.9% in the third quarter.
At the same time, off-price net sales, which consist of Nordstrom Rack stores and Nordstromrack.com/HauteLook, increased 12% and these comparable sales increased 3.6%.
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During the quarter, the company repurchased 12 million shares of its common stock for $675 million. A total of $800 million remains under its existing share repurchase board authorization.
In terms of the fiscal full year guidance, Nordstrom expects net sales to increase 3.5% to 5.5%, comparable sales to increase 0% to 2%, and EPS in the range of $3.10 to $3.35. There are consensus estimates that call for $3.37 in EPS on $14.43 billion in revenue for the fiscal full year.
On the books, cash and cash equivalents totaled $595 million, compared to $827 million at the end of the same period from the previous year.
Shares of Nordstrom closed Thursday up 0.9% at $52.72, with a consensus analyst price target of $55.48 and a 52-week trading range of $44.49 to $83.16. Following the release of the earnings report, the stock was down 6.2% at $49.45 in the after-hours trading session.
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