Stock Story -
Luxury department store chain Nordstrom (NYSE:JWN) will be reporting results tomorrow after market close. Here’s what you need to know.
Nordstrom met analysts’ revenue expectations last quarter, reporting revenues of $3.89 billion, up 3.2% year on year. It was a stunning quarter for the company, with a solid beat of analysts’ EPS estimates.
Is Nordstrom a buy or sell going into earnings? Find out by reading the original article on StockStory, it’s free.
This quarter, analysts are expecting Nordstrom’s revenue to be flat year on year at $3.35 billion, improving from the 6.4% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.22 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Nordstrom has missed Wall Street’s revenue estimates twice over the last two years.
Looking at Nordstrom’s peers in the general merchandise retail segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Dillard’s revenues decreased 3.5% year on year, beating analysts’ expectations by 1.2%, and Ross Stores (NASDAQ:ROST) reported revenues up 3%, falling short of estimates by 1.5%. Dillard's traded up 9.9% following the results while Ross Stores was also up 2.2%.
Read the full analysis of Dillard’s and Ross Stores’s results on StockStory.
There has been positive sentiment among investors in the general merchandise retail segment, with share prices up 4.1% on average over the last month. Nordstrom’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $22.32 (compared to the current share price of $23.25).