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 (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.
Nordstrom (NYSE: JWN) announced plans to open a new Nordstrom Rack store in Meridian, Idaho in fall 2025. The 25,000-square-foot store will be located in The Village at Meridian shopping center. The new location will offer up to 70% off on retail items and provide services including online order pickup from Nordstrom.com and NordstromRack.com. This expansion aligns with the company's Closer to You strategy, focusing on delivering a more interconnected experience across stores and digital platforms. The store will join other retailers like Lego, Evereve, Warby Parker, and Brandy Melville in the shopping center.
Nordstrom (NYSE: JWN) has unveiled a refreshed mobile app to enhance holiday shopping experience, featuring improved search capabilities, personalized recommendations, and trend reports powered by AI. The company is offering free 2-day shipping in over 25 major markets, same-day and next-day pickup options, and free styling services. The retailer has added over 300 new brands through its digital marketplace and introduced various gift selections at different price points. Nordstrom NYC will launch 'The Blizz on 57th Street' installation on November 27, featuring special holiday packages and experiences. Additionally, Nordstrom Rack is expanding its services with buy online pick-up in store at over 100 locations and introducing 'Rush the Rack,' an exclusive app feature for Nordy Club members.
Nordstrom (NYSE: JWN) has announced it will release its third quarter 2024 financial results after market close on Tuesday, November 26, 2024. The company will host a 45-minute conference call at 4:45 p.m. EST, where senior management will discuss Q3 results and provide their 2024 outlook. The call will be accessible via telephone and audio webcast through investor.nordstrom.com. A replay will be available through December 3, 2024, via telephone using Conference ID 13750079 and on the company's investor website.
Nordstrom, Inc. (NYSE: JWN) has announced plans to open two new Nordstrom Rack stores in Florida. The stores will be located in Melbourne and Sarasota, opening in fall 2025 and spring 2026, respectively. The Melbourne store will be a 24,000-square-foot space in The Avenue Viera, while the Sarasota location will be a 27,000-square-foot store in Sarasota Pavilion.
These new stores will offer up to 70% off on-trend apparel, accessories, beauty products, home decor, and shoes from top brands sold at Nordstrom stores. They will also provide services such as online order pickup for Nordstrom.com and NordstromRack.com, easy returns, and alterations at select stores. The expansion aligns with Nordstrom's Closer to You strategy, focusing on delivering a more convenient and interconnected customer experience across stores and digital platforms.
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