Nordstrom Earnings: Falls Short of Wall Street’s Profit Estimate
S&P 500 (NYSE:SPY) component Nordstrom Inc. (NYSE:JWN) reported its results for the third quarter. Nordstrom is a fashion retailer offering designer, luxury and quality apparel, shoes, cosmetics and accessories.
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Nordstrom Inc. Earnings Cheat Sheet
Results: Net income for Nordstrom Inc. rose to $146 million (71 cents per share) vs. $127 million (59 cents per share) in the same quarter a year earlier. This marks a rise of 15% from the year-earlier quarter.
Revenue: Rose 13.3% to $2.81 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Nordstrom Inc. fell short of the mean analyst estimate of 72 cents per share. It beat the average revenue estimate of $2.51 billion.
Revenue has increased for four quarters in a row. Revenue increased 7.1% to $3.01 billion in the second quarter. The figure rose 13.2% in the first quarter from the year earlier and climbed 12% in the fourth quarter of the last fiscal year from the year-ago quarter.
The company fell short of estimates last quarter after beating the mark the quarter before with net income of 75 cents versus a mean estimate of net income of 74 cents per share.
Net income has increased 3.1% year-over-year on average across the last five quarters. The biggest gain came in the most recent quarter, when income climbed 15% from the year-earlier quarter.
Looking Forward: Analysts appear increasingly optimistic about the company’s results for the next quarter. The average estimate for the fourth quarter has moved up from $1.31 a share to $1.33 over the last ninety days. For the fiscal year, the average estimate has moved up from $3.46 a share to $3.49 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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