Nordstrom Inc. (NYSE: JWN) released fiscal third-quarter financial results after markets closed Thursday. The retailer said that it had $0.81 in earnings per share (EPS) and $3.67 billion in revenue, compared with consensus estimates that called for $0.64 in EPS and $3.67 billion in revenue. The same period from last year had $0.67 in EPS and $3.75 billion in revenue.
Overall, sales trends improved across Nordstrom’s Full-Price and Off-Price businesses through aggressive actions taken during the year related to loyalty, digital marketing and merchandise assortment.
In Full-Price, net sales decreased 4.1% compared with the same period in fiscal 2018. Off-Price net sales increased 1.2%. Total company digital sales grew 7% and represented 34% of the business.
Looking ahead to the 2019 fiscal full year, the company expects to see EPS in the range of $3.30 to $3.50 and net sales decreasing 2%. Consensus estimates are calling for $3.29 in EPS and $15.52 billion in revenue for the full year.
Erik Nordstrom, co-president, commented:
Our third quarter earnings exceeded expectations, demonstrating substantial progress in the delivery of our strategy and strength of our operating discipline. Through our customer focus, we drove broad-based improvement in top-line trends. The consistent strength of our inventory and expense execution contributed to increased profitability for the quarter.
Shares of Nordstrom closed Thursday at $34.30, within a 52-week range of $25.01 to $54.65. The consensus analyst price target is $34.35. Following the announcement, the stock was up about 6% at $36.30 in the after-hours session.
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.