STOCK TITAN

Nordstrom, Inc. - JWN STOCK NEWS

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.

Rhea-AI Summary

Nordstrom, Inc. (NYSE: JWN) has reinstated its quarterly dividend at 19 cents per share. The dividend will be payable on April 13, 2022, to shareholders on record by March 28, 2022. This decision reflects the company's commitment to returning value to its shareholders following its operational strategies to enhance customer experience through both in-store and digital platforms.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.27%
Tags
dividends
-
Rhea-AI Summary

Nordstrom (NYSE: JWN) reported fourth quarter 2021 earnings of $200 million, or $1.23 per diluted share, reflecting strategic growth initiatives. The company achieved a 23% increase in net sales compared to Q4 2020, though sales decreased by 1% compared to Q4 2019. Gross merchandise value rose 24% year-over-year. For fiscal 2021, net earnings totaled $178 million and EBIT was $492 million. Looking ahead, Nordstrom anticipates a revenue growth of 5-7% for fiscal 2022 and earnings per share between $3.15 and $3.50. The firm plans to improve Nordstrom Rack performance and inventory management.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
37.82%
Tags
-
Rhea-AI Summary

Nordstrom (NYSE: JWN) will report its fourth quarter 2021 financial results on March 1, 2022, after market close. Following this, a conference call will be held at 4:45 p.m. EST, where management will discuss the results and provide the 2022 outlook. The call can be accessed via audio webcast on the company’s investor relations website. Recorded replays will be available for one year. Nordstrom aims to enhance customer experience through its digital-first platform, promoting convenience and connection in shopping.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.04%
Tags
conferences earnings
Rhea-AI Summary

Nordstrom announced plans to relocate its Nordstrom Rack store to a new site at The Summit in Birmingham, AL, with an opening scheduled for spring 2023. The new store will span approximately 27,000 square feet and is part of a mixed-use retail and entertainment destination featuring other renowned retailers. The relocation aims to enhance customer access to premium brands at discounted prices. The Nordstrom Rack division is pivotal for attracting new customers, offering savings of up to 70% on leading brand apparel and accessories.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.97%
Tags
none
-
Rhea-AI Summary

Nordstrom, Inc. (NYSE: JWN) reported third-quarter net earnings of $64 million, or $0.39 per diluted share, with EBIT of $127 million. Net sales rose by 18% compared to Q3 2020 but fell by 1% against Q3 2019. The Anniversary Sale positively impacted net sales by approximately 200 basis points versus 2019. Digital sales represented 40% of total sales, decreasing by 12% against 2020 but increasing by 20% compared to 2019. The company aims to reduce its leverage ratio to about three times by year-end and anticipates over 35% revenue growth for fiscal 2021.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-29.03%
Tags
-
Rhea-AI Summary

Nordstrom has announced a long-term partnership with Fanatics, enabling Nordstrom.com customers to access a broad array of licensed sports merchandise. This collaboration will introduce a brand new sports fan product category to Nordstrom's online platform, fulfilling orders through Fanatics' agile supply chain. With items from top leagues like the NFL, NCAA, and NBA, this initiative aligns with Nordstrom's strategy to enhance online offerings and meet customer demand ahead of the gifting season. The partnership seeks to leverage technology and data for improved product personalization.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
5.42%
Tags
none
Rhea-AI Summary

Nordstrom, Inc. (NYSE: JWN) will release its third quarter 2021 financial results on November 23, 2021, after market close. A conference call will follow at 4:45 p.m. EST, where senior management will discuss these results and provide insights on the 2021 outlook. The call can be accessed via audio webcast or by phone. For those unable to attend live, a replay of the call and materials will be available on their investor relations website for one year.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.06%
Tags
conferences earnings
-
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
5.48%
Tags
none
-
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.21%
Tags
none
Rhea-AI Summary

Nordstrom, Inc. (NYSE: JWN) reported robust second quarter results for fiscal 2021, with net earnings of $80 million or $0.49 per diluted share, marking a significant improvement from last year. Net sales surged 101% year-over-year but dipped 6% compared to fiscal 2019. The timing of the Anniversary Sale negatively impacted sales by 200 basis points. Overall, the company indicated progress in customer engagement and inventory management, positioning itself well for future growth as it focuses on key markets and digital expansion.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-17.64%
Tags

FAQ

What is the current stock price of Nordstrom (JWN)?

The current stock price of Nordstrom (JWN) is $24.53 as of December 20, 2024.

What is the market cap of Nordstrom (JWN)?

The market cap of Nordstrom (JWN) is approximately 4.0B.

What type of products does Nordstrom, Inc. sell?

Nordstrom sells women’s and men’s apparel, shoes, beauty products, home goods, and accessories.

How many stores does Nordstrom operate?

Nordstrom operates around 93 department stores and approximately 260 Nordstrom Rack off-price stores.

Where is Nordstrom, Inc. headquartered?

Nordstrom, Inc. is headquartered in Seattle, Washington.

What are Nordstrom’s financial highlights for recent quarters?

For the fourth quarter of 2023, Nordstrom reported net earnings of $134 million. However, in the first quarter of 2024, the company posted a net loss of $39 million.

What is Nordstrom’s Closer to You strategy?

The Closer to You strategy focuses on providing customers a more convenient and interconnected shopping experience across Nordstrom’s stores and digital platforms.

How is Nordstrom expanding its physical footprint?

Nordstrom has announced plans to open several new Nordstrom Rack stores in locations such as Houston, Geneva, Manalapan Township, and Apple Valley.

What community initiatives is Nordstrom involved in?

Nordstrom has a long-term partnership with Big Brothers Big Sisters of the United States, raising nearly $2 million to support mentorship programs.

How is Nordstrom adapting to digital trends?

Nordstrom is investing in digital growth by enhancing its e-commerce sites and offering services like online order pickup and easy returns.

Is Nordstrom exploring any strategic alternatives?

Yes, Nordstrom’s Board of Directors is exploring strategic alternatives, including the possibility of a privatization transaction led by Erik and Pete Nordstrom.

What is the purpose of Nordstrom’s new product lines?

The new product lines aim to offer high-quality, style-driven essentials that are versatile across different seasons and occasions, available at accessible prices.

Nordstrom, Inc.

NYSE:JWN

JWN Rankings

JWN Stock Data

4.04B
93.94M
43.19%
51.58%
6.53%
Department Stores
Retail-family Clothing Stores
Link
United States of America
SEATTLE