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.
INDOCHINO, the global leader in custom apparel, and Nordstrom are expanding their partnership with five new INDOCHINO shop-in-shop locations across the United States. This expansion brings the total number of INDOCHINO shops within Nordstrom to 32, covering 90% of the U.S. population within a 50-mile radius. The new locations include Nordstrom stores in Cerritos, Lynnwood, Thousand Oaks, Irvine, and Pentagon City.
Customers can expect a personalized shopping experience guided by expert Style Guides, creating custom-tailored suits, shirts, chinos, and outerwear. Each garment is made to the customer's precise measurements and shipped directly within three weeks. This expansion reinforces both companies' commitment to providing high-quality, personalized menswear to a wider audience.
Nordstrom announced it will open a new Nordstrom Rack in Coral Springs, Florida, in fall 2025. The 31,000-square-foot store will be located in Pine Ridge Square, joining other retailers like The Fresh Market and Ulta. The new location aligns with Nordstrom's Closer to You strategy, aiming to provide customers with convenience and interconnected services. This expansion includes online order pickups and easy returns.
Nordstrom Rack offers up to 70% off on a variety of products from top brands. This new Coral Springs store will join another upcoming location in Fort Myers, expanding Nordstrom's footprint in Florida, where it already operates 24 stores and employs around 3,000 people. Over the past four years, Nordstrom has also donated over $2 million to Big Brothers Big Sisters of the United States.
Nordstrom is excited to announce the start of its highly anticipated Anniversary Sale on July 15. This event, which runs until August 5, offers exclusive deals on new arrivals across various categories including women's, men's, children's fashion, beauty, and home goods. Loyalty cardmembers can shop early access starting July 11, with further early access based on their status. More than 50 new brands are featured this year, including Dr. Martens, JW PEI, and La Mer. Customers can preview sale items starting June 27 and build wish lists to streamline their shopping experience. The sale features not only fashion and beauty products but also hosts various store events, live streams, and promotions. It's an excellent time to save on essentials and discover new, exclusive items.
On June 25, 2024, Seattle-based retailer Nordstrom announced plans to open a new Nordstrom Rack store in Houston in spring 2025. The new 30,000 square-foot store will be located in the Westchase Shopping Center, which features other major retailers like Whole Foods and Target. This expansion is part of Nordstrom's strategy to offer convenience and interconnected experiences across its physical and digital platforms. The new location will provide services such as online order pickups and easy returns. Additionally, this store joins other upcoming openings in San Antonio and Houston, further expanding Nordstrom's presence in Texas where it already operates 29 stores and employs around 4,000 people statewide. Nordstrom emphasizes its commitment to community investment and has donated over $2 million to Big Brothers Big Sisters of the United States in the past four years.
Seattle-based fashion retailer Nordstrom (NYSE: JWN) announced plans to open a new Nordstrom Rack location in Tarzana, California, in fall 2024. The 25,000 square-foot store will be situated in Village Walk, a prominent shopping center. This expansion aims to enhance Nordstrom Rack's presence in the Los Angeles market and offer customers up to 70% off on apparel, accessories, beauty, home, and shoes from top brands. The new store will also provide convenient services such as online order pickup and easy returns. Nordstrom currently operates 26 Nordstrom stores and 65 Nordstrom Rack stores in California, generating approximately 14,000 jobs statewide. This new location aligns with Nordstrom's 'Closer to You' strategy, focusing on interconnected customer experiences across its stores and digital platforms.
Nordstrom (NYSE: JWN) reported its Q1 2024 earnings, highlighting a net loss of $39 million, or $0.24 per share, and a loss before interest and taxes of $21 million. Net sales increased by 5.1%, with comparable sales up 3.8%. Nordstrom Rack saw a 13.8% rise in net sales and a 7.9% increase in comparable sales. While gross profit was constrained due to timing and other factors, the company reaffirmed its fiscal 2024 outlook. Digital sales marginally declined by 0.2%, representing 34% of total sales. Gross profit margin fell to 31.6%, affected by higher loyalty activity and theft in the supply chain. Despite these challenges, Nordstrom opened nine new stores and plans to open more by the end of 2024.
The Couture Council of The Museum at FIT will honor Simon Porte Jacquemus, founder and designer of JACQUEMUS, at its annual luncheon on September 4, 2024, at the David H. Koch Theater in New York City. This event, supported by Nordstrom, precedes New York Fashion Week and benefits The Museum at FIT. Jacquemus is celebrated for his provocative fashion shows and creative direction. The luncheon is co-chaired by Deena Aljuhani Abdulaziz and Sarah Wetenhall. Ticket prices range from $2,000 to $50,000. Past awardees include prominent designers like Karl Lagerfeld, Valentino, and Carolina Herrera.
Nordstrom, a leading fashion retailer, announced that its board of directors has approved a quarterly dividend of 19 cents per share.
This dividend will be payable on June 19, 2024, to shareholders who are recorded as of the close of business on June 4, 2024.
This announcement highlights Nordstrom's ongoing commitment to returning value to its shareholders.
Nordstrom, Inc. (NYSE: JWN) will report its first quarter 2024 financial results on May 30, 2024, followed by a conference call discussing the company's financial performance and outlook. The 45-minute call will be available via telephone and webcast. Investors can access live and replay options at investor.nordstrom.com.
Nordstrom, Inc. announced plans to open a new Nordstrom Rack location in Apple Valley, Minnesota in spring 2025, offering great brands at great prices. The 30,000 square-foot store will be located in Fischer Marketplace, contributing to Nordstrom's Closer to You strategy. Nordstrom's expansion in Minnesota will create jobs and further economic impact in the state.
FAQ
What is the current stock price of Nordstrom (JWN)?
What is the market cap of Nordstrom (JWN)?
What type of products does Nordstrom, Inc. sell?
How many stores does Nordstrom operate?
Where is Nordstrom, Inc. headquartered?
What are Nordstrom’s financial highlights for recent quarters?
What is Nordstrom’s Closer to You strategy?
How is Nordstrom expanding its physical footprint?
What community initiatives is Nordstrom involved in?
How is Nordstrom adapting to digital trends?
Is Nordstrom exploring any strategic alternatives?
What is the purpose of Nordstrom’s new product lines?
