When Nordstrom Inc. (NYSE: JWN) reported its most recent quarterly results after the markets closed on Thursday, the department store chain said that it had $0.95 in earnings per share (EPS) and $4.07 billion in revenue. Consensus estimates had called for $0.84 in EPS and revenue of $3.96 billion. The fiscal second-quarter of last year reportedly had EPS of $0.65 and $3.79 billion in revenue.
During the most recent quarter, sales from Nordstrom Rewards customers represented 58% of the quarterly sales, compared with 56% a year ago.
At the same time, comparable sales increased 4.0% in the second quarter. In Full-Price stores, comparable sales increased 4.1%, and in Off-Price stores comparable sales increased 4.0%.
So far in fiscal 2018, the company has opened eight stores, closed two and relocated one. This gives Nordstrom a total footprint of 372 stores.
Looking ahead to the 2018 fiscal full year, the company expects to see EPS in the range of $3.50 to $3.65 and net sales between $15.4 billion and $15.5 billion, with comparable sales growing 1.5% to 2.0%. Consensus estimates call for $3.46 in EPS and $15.78 billion in revenue for the year.
During the six months ended August 4, Nordstrom repurchased 1.8 million shares of its common stock for $87 million. A total capacity of $327 million remains available under its existing share repurchase authorization.
Shares of Nordstrom closed Thursday at $52.28, with a consensus analyst price target of $53.00 and a 52-week trading range of $37.79 to $54.97. Following the announcement, the stock was up over 7% at $56.23 in early trading indications Friday.
Take This Retirement Quiz To Get Matched With An Advisor Now (Sponsored)
Are you ready for retirement? Planning for retirement can be overwhelming, that’s why it could be a good idea to speak to a fiduciary financial advisor about your goals today.
Start by taking this retirement quiz right here from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes. Smart Asset is now matching over 50,000 people a month.
Click here now to get started.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.