Welcome to our dedicated page for Nordstrom news (Ticker: JWN), a resource for investors and traders seeking the latest updates and insights on Nordstrom stock.
Nordstrom, Inc. (NYSE: JWN) is a leading fashion retailer that operates approximately 93 department stores and around 260 off-price Nordstrom Rack stores across the United States. In addition to its physical locations, the company also runs full- and off-price e-commerce sites, two clearance stores, and seven Local locations. Major merchandise categories include women’s apparel (27% of 2023 sales), shoes (26% of 2023 sales), men’s apparel (15% of 2023 sales), and beauty products (13% of 2023 sales).
Founded in 1901 in Seattle as a shoe retailer, Nordstrom continues to be partially owned and managed by the Nordstrom family. The company prides itself on empowering employees to grow within the organization, fostering a culture where success is earned through hard work, loyalty, and a commitment to customer service. Nordstrom is also dedicated to environmental sustainability and community support, exemplified by their long-term partnership with Big Brothers Big Sisters of the United States.
Recently, Nordstrom announced multiple new store openings. A new Nordstrom Rack is set to open in Houston, Texas in fall 2024, another one in Geneva, Illinois in spring 2025, and yet another in Manalapan Township, New Jersey in spring 2025. These expansions are expected to enhance the company's physical footprint and economic impact in these regions. Additionally, Nordstrom plans to open a Nordstrom Rack in Apple Valley, Minnesota in spring 2025.
The company's financial performance in recent quarters has been mixed. For the fourth quarter of 2023, Nordstrom reported net earnings of $134 million, or $0.82 per diluted share. For the first quarter of 2024, while net sales increased by 5.1% compared to the same quarter in the previous year, the company posted a net loss of $39 million. Despite these challenges, Nordstrom remains confident in its strategy for continued sales improvement and profitability through new store openings and digital growth.
Nordstrom is also exploring strategic options to enhance shareholder value, including the possibility of going private, as indicated by recent interest from CEO Erik Nordstrom and President Pete Nordstrom. This move is being carefully evaluated by a special committee of independent directors, with financial and legal advisors retained for the process.
A key focus for Nordstrom is its Closer to You strategy, which aims to offer customers a more interconnected and convenient shopping experience across its physical and digital platforms. This includes services like online order pickup, easy returns, and alterations at select stores. Nordstrom Rack, in particular, plays a significant role in attracting new customers to the Nordstrom brand, offering up to 70% discounts on apparel, accessories, beauty products, home goods, and shoes from top brands.
Nordstrom continues to innovate with new product lines and collections, such as the recently launched high-quality, style-driven essentials designed by the Nordstrom team. These collections feature versatile, premium fabric pieces that balance tailored classics with minimalist designs, available at accessible prices.
With a commitment to excellence in customer service, sustainability, and community support, Nordstrom, Inc. aims to leave the world better than it found it, whether through its physical stores, digital platforms, or community initiatives.
Nordstrom has launched 'Nuna at The Corner,' a -time pop-up shop at its NYC Flagship store, featuring Nuna's baby gear collection and Tavo Pets car seats. Located at 57th and Broadway, the pop-up will run through March 2nd, 2025.
The shop showcases curated baby gear, including the new Nuna SWIV + PIPA urbn Travel System. Customers can test the stroller's carbon fiber-reinforced frame on an in-store track. The pop-up exclusively offers the PIPA urbn car seat as a standalone item, featuring pipaFIX™ rigid latch technology and weighing just 7 lbs.
The experience includes access to baby gear experts, community talks, and weekly activities such as Mommy & Me classes, safety education, sleep specialist consultations, and yoga sessions. Products will be available both in-store and online at Nordstrom.com.
Nordstrom (NYSE: JWN) has announced plans to open a new Nordstrom Rack location in Estero, Florida, at Coconut Point shopping center in fall 2025. The store will offer up to 70% off on branded apparel, accessories, beauty products, home decor, and shoes, while providing services like online order pickup and returns.
This expansion is part of Nordstrom's broader growth in Florida, with additional Rack locations planned in Coral Springs, Melbourne, and Lakeland in fall 2025. The company currently operates 6 Nordstrom stores and 19 Nordstrom Rack stores in Florida, employing over 2,800 people statewide. The new location will be situated in Coconut Point, an outdoor shopping center featuring over 110 stores.
Nordstrom (NYSE: JWN) reported strong holiday sales performance, with total Company net sales increasing 4.9% and comparable sales rising 5.8% for the nine-week holiday period ended January 4, 2025. The Nordstrom banner saw net sales growth of 3.7% with comparable sales up 6.5%, while Nordstrom Rack banner achieved 7.4% net sales growth with 4.3% comparable sales increase.
Based on these results, the company has raised its fiscal 2024 outlook. Revenue growth is now expected at 1.5-2.5% (including retail sales and credit card revenues) versus fiscal 2023, up from previous guidance of flat to 1.0% growth. Comparable sales growth forecast has been increased to 2.5-3.5% versus the prior outlook of 1.0-2.0%. The company will report detailed Q4 and full-year 2024 results on March 4, 2025.
Nordstrom (NYSE: JWN) has announced a definitive agreement to be acquired by the Nordstrom Family and Liverpool in an all-cash transaction valued at approximately $6.25 billion. Shareholders will receive $24.25 per share, representing a 42% premium to the closing price on March 18, 2024. Additionally, a special dividend of up to $0.25 per share is planned prior to closing.
Following the transaction's completion in the first half of 2025, Nordstrom will become private, with the Nordstrom Family owning 50.1% and Liverpool owning 49.9%. The deal requires approval from two-thirds of shareholders and will be financed through rollover equity, cash commitments, up to $450 million in borrowings, and company cash.
Nordstrom (NYSE: JWN) announced plans to open a new Nordstrom Rack store in Nashua, New Hampshire in spring 2025. The 30,000-square-foot store will be located in Royal Ridge Center, a popular shopping center featuring various retail stores. The new location will offer up to 70% off on apparel, accessories, beauty products, home decor, and shoes from top brands sold at Nordstrom stores. The store will provide services including online order pickup from Nordstrom.com and NordstromRack.com, returns, and alterations at select stores. This expansion aligns with Nordstrom's Closer to You strategy, focusing on delivering a more convenient and interconnected experience across stores and digital platforms.
Nordstrom (NYSE: JWN) has announced plans to open a new Nordstrom Rack store in Lubbock, Texas in fall 2025. The 30,000-square-foot store will be located in West End Center, alongside retailers like Costco and Nike Factory Outlet. The store will offer up to 70% off on brand merchandise and provide services including online order pickup from Nordstrom.com and NordstromRack.com.
This expansion adds to Nordstrom's existing Texas presence of 8 Nordstrom stores and 23 Nordstrom Rack locations, which currently employ over 3,700 people statewide. The new location aligns with the company's Closer to You strategy, focusing on delivering convenient and interconnected shopping experiences across stores and digital platforms.
Nordstrom NYC unveils 'The Blizz on 57th Street' holiday campaign at its flagship store, featuring larger-than-life inflatable characters voiced by John Waters and Fran Drescher. The installation, part of the Wonder All the Way campaign, transforms the store with interactive elements including Mr. Blizz at the entrance, Pigeonthia (a fortune-telling pigeon), and Wonder Ring (a token-operated machine). The experience includes a treasure map with sticker collection and the return of the Santa Snow Show from November 29th through December 24th. The display will run through January 5th, 2025, creating an immersive shopping destination and visual spectacle.
Nordstrom (JWN) reported strong Q3 2024 results with net earnings of $46 million and EPS of $0.27. Total net sales increased 4.6% with comparable sales up 4.0%. Nordstrom Rack showed significant growth with net sales up 10.6%, while the main Nordstrom banner sales increased 1.3%. Digital sales grew 6.4%, representing 34% of total sales. The company saw double-digit growth in women's apparel and active categories, with shoes, men's apparel, and kids showing mid to high single-digit growth. Gross profit margin improved to 35.6%, up 60 basis points from last year.
Nordstrom (NYSE: JWN) has announced that its board of directors has approved a quarterly dividend of 19 cents per share. The dividend will be payable on December 18, 2024, to shareholders who are on record at the close of business on December 3, 2024.
Nordstrom (NYSE: JWN) announced plans to open a new Nordstrom Rack store in Lakeland, Florida in fall 2025. The 30,000-square-foot store will be located in Lakeside Village shopping center. The new location will offer up to 70% off on apparel, accessories, beauty products, home decor, and shoes, along with services like online order pickup and returns. This expansion adds to Nordstrom's existing Florida presence of 6 Nordstrom stores and 19 Nordstrom Rack locations, which currently generate over 2,800 jobs statewide.
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