Nordstrom Earnings: Fifth Consecutive Quarter of Double-Digit Revenue Growth

S&P 500 (NYSE:SPY) component Nordstrom Inc. (NYSE:JWN) reported its results for the first quarter. Nordstrom Inc. is a fashion retailer offering designer, luxury and quality apparel, shoes, cosmetics and accessories.

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Nordstrom Earnings Cheat Sheet for the First Quarter

Results: Net income for Nordstrom Inc. rose to $145 million (65 cents/share) vs. $116 million (52 cents/share) in the same quarter a year earlier. A rise of 25% from the year earlier quarter.

Revenue: Rose 11.3% to $2.32 billion YoY.

Actual vs. Wall St. Expectations: JWN reported adjusted net income of 69 cents per share. By this measure, the company beat the mean analyst estimate of 66 cents/share. Estimates ranged from 60 cents per share to 70 cents per share.

Key Stats:

The company has enjoyed double-digit year-over-year revenue growth for the past five quarters. Over that span, the company has averaged growth of 12.4%, with the biggest boost coming in the first quarter of the last fiscal year when revenue rose 16.5% from the year earlier quarter.

The company has now seen net income rise in three-straight quarters. In the fourth quarter of the last fiscal year, net income rose 34.9% and in the third quarter of the last fiscal year, the figure rose 43.4%.

From the fourth quarter of the last fiscal year, the company’s current liabilities rose to $2.49 billion from $1.88 billion.

The company’s cost of sales rose 11.4% from a year earlier. Last quarter, cost of sales was 59.6% of revenue, similar to a year earlier.

Competitors to Watch: Macy’s, Inc. (NYSE:M), Saks Incorporated (NYSE:SKS), Stage Stores, Inc. (NYSE:SSI), Dillard’s, Inc. (NYSE:DDS), J.C. Penney Company, Inc. (NYSE:JCP), Stein Mart, Inc. (NASDAQ:SMRT), Kohl’s Corporation (NYSE:KSS), Syms Corp. (NASDAQ:SYMS), The Buckle, Inc. (NYSE:BKE), and Citi Trends, Inc. (NASDAQ:CTRN).

Stock Performance: Shares of JWN are down 2% from the previous close.

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