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.
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.
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