JWN - Nordstrom, Inc.
40.00 +0.05 (0.13%)
Pre-Market: 7:15AM EST
| Previous Close | 40.28 |
| Open | 40.05 |
| Bid | 0.00 x 1000 |
| Ask | 43.35 x 800 |
| Day's Range | 39.52 - 40.44 |
| 52 Week Range | 25.01 - 48.87 |
| Volume | 2,097,785 |
| Avg. Volume | 3,098,877 |
| Market Cap | 6.202B |
| Beta (5Y Monthly) | 0.68 |
| PE Ratio (TTM) | 11.48 |
| EPS (TTM) | 3.48 |
| Earnings Date | Mar 02, 2020 |
| Forward Dividend & Yield | 1.48 (3.67%) |
| Ex-Dividend Date | Nov 26, 2019 |
| 1y Target Est | 37.89 |
- Investor's Business Daily
Is Macy's Stock A Buy Right Now? Here's What Earnings, Chart Show
Macy’s has struggled to compete vs. Amazon and off-price retailers. Do a strong economic backdrop and cheap valuation make Macy’s stock a buy?
- MarketWatch
The lessons of Vanguard’s Jack Bogle have helped countless investors — but his picks could be improved
• Low-cost, passively managed index funds with relatively low turnover (hence lower taxes) should be among an investor’s best friends. • Investors should aim for achieving the returns of the entire stock market. • A few low-cost mutual funds can give investors most if not all of what they need.
- American City Business Journals
Exec who grew Nordstrom Rack will lead Saks Off 5th
Nordstrom veteran Paige Thomas has been named president of off-price retailer Saks Off 5th, the discount arm of luxury department store Saks Fifth Avenue. Thomas was executive vice president and general merchandising manager for Nordstrom, Inc.’s (NYSE: JWN) off-price division for five years, driving the growth of Nordstrom Rack and launching its e-commerce site, including its integration with HauteLook, as well as overseeing the opening of more than 100 stores. Thomas will report to Helena Foulkes, CEO of Saks Off 5th’s parent company, Hudson Bay Company.
- Bloomberg
Nordstrom Bets on Used Clothes, But the Market Is a Bit Threadbare
(Bloomberg Opinion) -- Nordstrom Inc.’s seven-story New York flagship at Broadway and 57th Street is home to a velvet-lined Nike boutique, a facial massage studio, a martini bar in the heart of the shoe floor and lots of expensive new merchandise. That’s how it’s always been at Nordstrom. But last month brought something new with the opening of See You Tomorrow, a luxury apparel resale boutique inside the flagship. Shoppers will find returned and damaged goods sourced from other Nordstrom stores and — because it’s a resale shop — they’re welcome to sell their own high-end apparel for store credit.Nordstrom isn’t the first department store to try resale. In 2019, Macy’s Inc. and J.C.Penney Co. Inc. preceded Nordstrom into the business, lured by younger shoppers concerned with the environmental footprint of their consumption. But long term, resale’s biggest impact on retailing won’t be the growing sections of department stores devoted to used clothes. The most profound shift will be if manufacturers are compelled to make better quality, more durable clothes that consumers perceive as having value in the secondhand economy.Consumers have complained about the declining quality and durability of clothing for decades. But the complaints became louder and more serious as (primarily) Asian manufacturers became adept at quickly meeting consumer demand for low-cost versions of the latest trends. To do so, the manufacturers skimp on quality. For example, they’ll reduce thread counts, making garments more flimsy and less likely to survive multiple wears and washes. Those low-quality garments have no market in resale shops or on resale apps. And the stuff that can’t be resold or recycled is growing faster than the stuff that can. Between 2003 and 2017, the amount of apparel sold globally nearly doubled, while the number of times a garment was worn dropped by more than a third. All that unworn and ultimately unwanted apparel piles up: In 2017, 14.3 million tons of textiles were landfilled or incinerated in the U.S. — a 623% increase over 1970.These facts are increasingly well-known to American consumers, many of whom say they want to buy purpose-driven, sustainable brands. According to ThredUp Inc., a major online fashion resale platform and the primary source for the resale industry’s data, 59% of consumers expect retailers to create clothes ethically and sustainably. It’s impossible to objectively judge how many retailers meet that expectation. More likely than not, it’s a small number and they charge premium prices. So, in the absence of certainty and a willingness to spend, increasing numbers of consumers are opting for a secondhand retail experience. According to ThredUp’s data, the secondhand apparel market — everything from thrift stores to Nordstrom to ThredUp itself — more than doubled between 2012 and 2018, to $24 billion, and should exceed the fast fashion market by 2028. That expansion is being driven across demographics, but especially among those 18-24, 37% of whom said they would buy secondhand in 2019.However, all of this growth is theoretically constrained by two supply bottlenecks. First, consumers need incentives to sell stuff from their own closets. Second, there needs to be enough decent apparel worth selling to keep the market going. The first problem has largely been solved by online platforms like ThredUp and PoshMark Inc., which enable selling (and buying) through intuitive apps.Historically, the second question has been solved by the market. For example, the resale value of a new car is such a crucial consideration for buyers that automakers advertise how well their models retain it — and manufacture accordingly. Today, 40% of consumers say, according to the ThredUp report, that they incorporate resale value into their purchasing decisions beyond just cars, to include items like furniture to apparel. That’s a major shift in consumer behavior.Last year, Ikea announced a rental program that — among other benefits — is giving the cheap flat-pack furniture maker insights into wear and tear. It’s incorporating that information back into its designs, so items can be sold or rented, over and over again. Similarly, clothing rental juggernaut Rent the Runway Inc. shares its data with designers so that they can learn from it. One fashion label executive summarized the findings as: “How many times do our dresses get dry-cleaned and still come back as new?” The answer won’t only affect Rent the Runway. Last month, Nordstrom announced that it would begin selling garments pulled from Rent the Runway circulation at its discount Nordstrom Rack stores. Presumably, they’ll be able to last a few more dry cleans.Of course, shoppers at Nordstrom’s New York flagship can take resale value for granted. But the mere fact that Nordstrom is offering the option to sell back apparel in the same store from which it was purchased marks a profound shift in how consumers, retailers and manufacturers will perceive shopping and ownership. In coming years, that shift should result in better quality stuff for everyone.To contact the author of this story: Adam Minter at aminter@bloomberg.netTo contact the editor responsible for this story: Stacey Shick at sshick@bloomberg.netThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Adam Minter is a Bloomberg Opinion columnist. He is the author of “Junkyard Planet: Travels in the Billion-Dollar Trash Trade” and the forthcoming "Secondhand: Travels in the New Global Garage Sale."For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- Reuters
Hudson's Bay Co seeks to bolster Saks off-price stores with staff move
Saks Fifth Avenue owner Hudson's Bay Co on Monday named a president to lead its off-price business, known as Saks Off 5th, the latest example of a department store chain trying to bolster its outlet stores. Until now, the discount apparel unit Off 5th was run by the president of the main Saks Fifth Avenue chain. "We've had mostly department store people running the business," Hudson's Bay Co (HBC) Chief Executive Officer Helena Foulkes told Reuters.
- Benzinga
The Year Of Retail Reinvention? Walmart, Target, Other Retailers Prepare To Report Earnings
The next couple weeks could help tell the tale as major big box stores prepare to report earnings. Despite that, the National Retail Federation said holiday sales outpaced its own forecast, rising 4.1% from the same period a year earlier to $730.2 billion. “These numbers validate continued optimism for increased investment and opportunity in the retail industry,” NRF Chief Executive Matthew Shay said.
- Simply Wall St.
Why Nordstrom, Inc. (NYSE:JWN) Looks Like A Quality Company
While some investors are already well versed in financial metrics (hat tip), this article is for those who would like...
- MarketWatch
Macy’s stores at risk of closing drive an average of 80% less sales than ‘Growth’ stores: JPMorgan
Macy’s announced it would close 125 stores over the next three years, a good start to a turnaround but experts say there’s much more to do.
- Bloomberg
Is Macy’s Too Macy’s to Save Macy’s?
(Bloomberg Opinion) -- With the traditional department store in its death throes, Macy’s Inc. is doing its best to keep the concept alive.The struggling retailer late Tuesday unveiled a strategic blueprint to defend its business against the twin threats of online and discount competitors. The centerpiece is closing 125 of its department stores — almost a quarter of the total — over the next three years, including some 30 locations it previously targeted for shuttering last month. These are the so-called “neighborhood stores,” leftovers that Macy’s was reluctant to close sooner. It should have, but at least it’s getting to grips with it now.Alongside the closures, Macy’s is also cutting about 2,000 corporate jobs, and shutting offices in San Francisco and Cincinnati, in an effort to save $1.5 billion a year by the end of 2022.But no one ever cut their way to growth.While taking an ax to the store estate was badly needed — and with department stores under so much pressure, costs probably needed to be reined in, too — Macy’s must ensure that what is left of its estate is compelling. Having the right products, at prices that customers are prepared to pay, and in settings that appeal, is crucial.In that regard, the decision to accelerate store renovations is encouraging. Since 2018, about 150 locations have been given a face-lift. A further 100 will be rejuvenated this year, with around 400 stores refurbished by the end of 2022.Plans to invest in building four $1 billion “power” private-label brands are also welcome. These not only offer merchandise that can’t be found elsewhere, giving customers a reason to visit stores, but exclusive items are more difficult to compare with products available in other stores or online, such as at Amazon.com Inc. That should help Macy’s wean itself off of its discounting, something that is also badly needed if the strategy is to work.New store concept Market by Macy’s also has potential. This paves the way for smaller units, in local shopping centers. At the same time, the group will also keep expanding its off-price locations.To really make a difference, these initiatives must be put into practice effectively. Transforming private-label offerings into brands with a personality and value in their own right is notoriously difficult. And the Market stores can’t just be mini-Macy’s. They must have the sorts of products that will appeal to customers, particularly younger ones, as well as plenty of experiences to brighten the shopping trip. The stores also must serve as hubs for collecting and returning online orders. At least Macy’s will have the cost savings — and proceeds from monetizing its real estate, for example, developing above stores or on car parks — to invest in these concepts.Some of the group’s efforts are already paying off. The 150 store refurbishments, for example, helped the Macy’s deliver better-than-expected holidays sales.But it’s not clear that even this latest overhaul — which also includes enhancing Macy’s loyalty program and staying focused on digital — will be enough to contend with Amazon, which goes from strength to strength. Target Corp., meanwhile, is already a private label powerhouse, and Nordstrom Inc. is further down the line with small-format stores.Indeed, it looks like Macy’s is trying to emulate elements of both Target’s and Nordstrom’s strategies when coming up with its own. It deserves credit for tackling the plethora of challenges it faces, and not just allowing itself to become retail apocalypse roadkill. But to really ensure it has a future, it needs to lead, not just follow. To contact the author of this story: Andrea Felsted at afelsted@bloomberg.netTo contact the editor responsible for this story: Beth Williams at bewilliams@bloomberg.netThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Andrea Felsted is a Bloomberg Opinion columnist covering the consumer and retail industries. She previously worked at the Financial Times.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- Zacks
Will Higher Revenues Drive Skechers' (SKX) Q4 Earnings?
Skechers' (SKX) focus on new lines of products, cost-containment efforts, inventory management and global distribution platform is likely to show on fourth-quarter performance.
- Zacks
Tapestry (TPR) to Report Q2 Earnings: What Awaits the Stock?
Unfavorable currency movements, soft margins and weakness in Kate Spade brand are likely to have impacted Tapestry's (TPR) Q2 results. Management expects high-single-digit decline in Kate Spade comps.
- MarketWatch
E-commerce surge sparks questions about reliability of same-store sales metric
Experts say there should be a discussion about metrics besides same-store sales now that so much shopping is done online.
- Zacks
Will Nordstrom (JWN) Beat Estimates Again in Its Next Earnings Report?
Nordstrom (JWN) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
- Zacks
Factors to Know Ahead of Capri Holdings' (CPRI) Q3 Earnings
Capri Holdings (CPRI) expects low single digit increase in comparable store sales but lower operating margin at Michael Kors in the third quarter.
- American City Business Journals
Nordstrom promotes Michael Maher to chief accounting officer
The Seattle-based apparel company replaces former chief accounting officer Kelley Hall, who resigned last year to join REI.
- GuruFocus.com
US and European Stocks Decline Friday
Honeywell shares tumble on 4th-quarter results Continue reading...
- Yahoo Finance
Levi's beats quarterly earnings estimates; CFO says China still a growth market
Levi's reports fourth quarter 2019 earnings. Yahoo Finance catches up with Levi's CFO Harmit Singh.
- Zacks
Nordstrom is Rallying Ahead of Industry: Factors at Play
Nordstrom's (JWN) robust omni-channel expansion efforts and customer strategy should continue driving its performance.
- Investopedia
Top Consumer Discretionary Stocks for February 2020
These are the consumer discretionary stocks with the best value, fastest growth, and most momentum for February 2020.
- Zacks
Retail-Apparel & Shoes Industry Outlook: Prospects Bright
Retail-Apparel & Shoes Industry Outlook: Prospects Bright
- Zacks
Helen of Troy Adds Drybar Products to Leadership Brands Kitty
Helen of Troy (HELE) completes the acquisition of Drybar Products LLC for roughly $255 million. This is likely to strengthen its Beauty business.
- Zacks
JWN vs. BHOOY: Which Stock Is the Better Value Option?
JWN vs. BHOOY: Which Stock Is the Better Value Option?
- Zacks
Foot Locker Declines 12% in 3 Months: Can the Stock Rebound?
Foot Locker's (FL) soft fourth-quarter fiscal 2019 view is hurting investors' sentiments. Nevertheless, its focus on expanding international and digital platforms might aid performance.
- Barrons.com
Bed Bath & Beyond is Ready to Rally Under a New CEO, Meryl Witmer Says
Bed Bath & Beyond won’t be an overnight success. But new CEO Mark Tritton can build a strong omni-channel retailer, Meryl Witmer of Eagle Capital Partners argues.
