Nordstrom - JWN STOCK NEWS

Nordstrom (NYSE: JWN) has announced plans to open a new Nordstrom Rack store in Holbrook, New York, in fall 2025. The 27,000-square-foot store will be located in The Shops at SunVet, a popular shopping center owned and managed by Regency Centers. 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 Rack offers up to 70 percent off on-trend apparel, accessories, beauty products, home decor, and shoes from top brands sold at Nordstrom stores. The new location will provide services such as online order pickup from Nordstrom.com and NordstromRack.com, as well as easy returns and alterations at select stores. This expansion will increase Nordstrom's presence in New York to five Nordstrom stores and 12 Nordstrom Rack stores, generating over 2,000 jobs statewide.

Cast, a San Francisco-based fine jewelry brand, has partnered with Issa Rae to launch the Braeve Collection. The collection, featuring 22 pieces of 14K Gold, Sterling Silver, Black Onyx, and Cast-created Diamonds, will be available from September 17, 2024, at Cast Boutiques, CastJewelry.com, and select Nordstrom stores and Nordstrom.com. Priced between $250-$5900, the modern and versatile collection aims to make artfully designed jewelry more accessible.

The collaboration reflects Issa's personal jewelry journey and her appreciation for Cast's design, quality, and versatility. Nordstrom's Vice President Fashion Director, Rickie De Sole, expressed excitement about offering customers exclusive access to this unique partnership, highlighting Issa Rae's influence in entertainment and fashion.

Nordstrom (NYSE: JWN) has received a going-private transaction proposal from the Nordstrom family and Liverpool (BMV: LIVEPOL) to acquire all outstanding shares at $23.00 per share in cash. The proposal involves financing through rollover equity, cash commitments, and $250 million in new bank financing, with existing company debt remaining outstanding.

A special committee of independent directors will review the proposal to determine the best course of action for Nordstrom and its shareholders. The committee was formed in response to interest from Erik and Pete Nordstrom in exploring a possible transaction. Morgan Stanley & Co. and Centerview Partners are acting as financial advisors, while Sidley Austin LLP and Perkins Coie LLP are providing legal counsel.

Nordstrom (NYSE: JWN) reported solid second quarter 2024 earnings, with net earnings of $122 million and EPS of $0.72. Adjusted EPS was $0.96, excluding a charge related to supply chain asset impairment. Net sales increased 3.4% compared to the same period in 2023, with total Company comparable sales up 1.9%. The Nordstrom banner saw a 0.9% increase in net sales and comparable sales, while Nordstrom Rack's net sales rose 8.8% with comparable sales up 4.1%. Digital sales grew 6.2%. The company updated its fiscal 2024 outlook, projecting revenue growth between -1.0% to 1.0% and comparable sales growth of 0% to 2.0%. Nordstrom also declared a quarterly cash dividend of $0.19 per share.

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 September 18, 2024, to shareholders of record at the close of business on September 3, 2024. This decision demonstrates Nordstrom's commitment to providing regular returns to its shareholders and may indicate the company's confidence in its financial stability and future prospects.

Nordstrom (NYSE: JWN) has announced plans to open a new Nordstrom Rack store in Surprise, Arizona in fall 2025. The 26,000-square-foot store will be located in Prasada North, a popular shopping center owned by SimonCRE. This expansion aligns with Nordstrom's Closer to You strategy, focusing on delivering a more convenient and interconnected experience across stores and digital platforms.

The new location will offer up to 70% off on-trend apparel, accessories, beauty products, home decor, and shoes from top brands. It will also provide services like online order pickup for Nordstrom.com and NordstromRack.com, easy returns, and alterations. This addition expands Nordstrom's presence in Arizona to one Nordstrom store and 12 Nordstrom Rack stores, generating approximately 1,295 jobs statewide.

Nordstrom (NYSE: JWN) has announced plans to open a new Nordstrom Rack store in Morrisville, North Carolina in spring 2025. The 25,000-square-foot store will be located in Park West Village, a popular shopping center. This expansion is part of Nordstrom's Closer to You strategy, focusing on delivering a more convenient and interconnected experience across stores and digital platforms.

Nordstrom Rack offers up to 70% off on-trend apparel, accessories, beauty products, home decor, and shoes from top brands sold at Nordstrom stores. The company is also opening three additional locations in Mooresville, Raleigh, and Matthews this fall and next spring, expanding its footprint in North Carolina. Currently, Nordstrom operates two Nordstrom stores and two Nordstrom Rack stores in the state, generating more than 650 jobs.

Nordstrom (NYSE: JWN) will announce its second quarter 2024 financial results on August 27, 2024, after the market closes. A conference call will follow at 4:45 p.m. EDT, where senior management will provide updates and discuss the financial results and outlook for 2024.

The call will be available via telephone and audio webcast at investor.nordstrom.com. For audio-only access, dial 201-689-8354. A replay will be accessible three hours post-call until September 3, 2024, via the website or by dialing 877-660-6853 or 201-612-7415 with Conference ID 13748345.

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.