Nordstrom (JWN) Reports Earnings Tomorrow. What To Expect
Luxury department store chain Nordstrom (NYSE:JWN) will be announcing earnings results tomorrow after market hours. Here's what to look for.
Last quarter Nordstrom reported revenues of $3.32 billion, down 6.4% year on year, missing analyst expectations by 2.9%. It was a strong quarter for the company, with an impressive beat of analysts' earnings estimates.
Is Nordstrom buy or sell heading into the earnings? Read our full analysis here, it's free.
This quarter analysts are expecting Nordstrom's revenue to grow 1.4% year on year to $4.38 billion, improving on the 3.7% year-over-year decline in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.89 per share.
The analysts covering the company have been growing increasingly bullish about the business heading into the earnings, with revenue estimates seeing four upward revisions over the last thirty days. The company missed Wall St's revenue estimates twice over the last two years.
Looking at Nordstrom's peers in the general merchandise retail segment, only Macy's has so far reported results, with revenues decreasing 1.8% year on year, and beating analyst estimates by 3.5%. The stock was down 1.5% on the results.
Read our full analysis of Macy's's earnings results here.
There has been positive sentiment among investors in the general merchandise retail segment, with the stocks up on average 10.2% over the last month. Nordstrom is up 13.6% during the same time, and is heading into the earnings with analyst price target of $17.9, compared to share price of $20.7.
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