Stock Story -
Luxury department store chain Nordstrom (NYSE:JWN) will be reporting results tomorrow afternoon. Here's what you need to know.
Nordstrom met analysts' revenue expectations last quarter, reporting revenues of $4.42 billion, up 2.3% year on year. It was a slower quarter for the company, with underwhelming earnings guidance for the full year and a miss of analysts' earnings 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 $3.20 billion, improving from the 10.9% decrease it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.07 per share.
The majority of analysts covering the company have 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 Q1 results, giving us a hint as to what we can expect. Dillard's revenues decreased 2.5% year on year, beating analysts' expectations by 1.5%, and Macy's (NYSE:M) reported a revenue decline of 3.3%, topping estimates by 3.9%. Dillard's traded down 3.8% following the results while Macy's was up 5.2%.
Read the full analysis of Dillard's and Macy's results on StockStory.
There has been positive sentiment among investors in the general merchandise retail segment, with share prices up 9.3% on average over the last month. Nordstrom is up 13.3% during the same time and is heading into earnings with an average analyst price target of $19.3 (compared to the current share price of $21.53).
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