Nordstrom Inc. (NYSE: JWN) is scheduled to release its most recent quarterly results after the closing bell on Thursday. The consensus estimates are calling for $0.64 in earnings per share (EPS) and $3.67 billion in revenue. The fiscal third quarter of last year had $0.67 in EPS and $3.75 billion in revenue.

In its fiscal second quarter, Nordstrom’s bottom-line exceeded expectations but sales were around the low end of its expected range. This reflected a challenging start to the quarter as well as softer performance for the Anniversary Sale and Off-Price business. However, the company saw positive outcomes from the execution of its loyalty and digital marketing programs.

At the same time, Full-Price net sales decreased 6.5% year over year, while Off-Price net sales decreased 1.9%. Total company digital sales grew 4% and represented 30% of the business in the second quarter.

Overall, Nordstrom exited the second quarter in a favorable inventory position and made important strides in productivity. Management is now focused on driving the top-line, and while this can take time, the retailer seems to be confident in its ability to manage through cycles.

Excluding Thursday’s move, Nordstrom had underperformed the broad markets, with its stock down about 27% year to date. In the past 52 weeks, the stock is down closer to 34%.

A few analysts weighed in on Nordstrom ahead of the results:

• Barclays has an Equal Weight rating and a $36 target.
• UBS has a Sell rating with a $30 price target.
• Wedbush rates it as Neutral with a $36 price target.
• Guggenheim has a Hold rating.
• Morgan Stanley’s Equal Weight rating comes with a $33 target.

Shares of Nordstrom traded up nearly 1% to $34.18 on Thursday, in a 52-week range of $25.01 to $54.65. The consensus price target is $34.35.

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