Nordstrom Inc. Earnings Cheat Sheet: Revenue Strengthens for Fifth Straight Quarter by Double-Digits

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

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Nordstrom Earnings Cheat Sheet for the Third Quarter

Results: Net income for Nordstrom Inc. rose to $127 million (59 cents per share) vs. $119 million (53 cents per share) in the same quarter a year earlier. This marks a rise of 6.7% from the year earlier quarter.

Revenue: Rose 13.6% to $2.48 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: JWN beat the mean analyst estimate of 58 cents per share. It beat the average revenue estimate of $2.37 billion.

Key Stats:

The company has enjoyed double-digit year-over-year percentage revenue growth for the past five quarters. Over that span, the company has averaged growth of 11.6%, with the biggest boost coming in the most recent quarter when revenue rose 13.6% from the year earlier quarter.

The company has now seen net income rise in three straight quarters. In the second quarter, net income rose 19.9% and in the first quarter, the figure rose 25%.

The company has now topped analyst estimates for the last four quarters. It beat the mark by 7 cents in the second quarter, by 2 cents in the first quarter, and by 4 cents in the fourth quarter of the last fiscal year.

The company’s cost of sales rose 13.5% from a year earlier. Last quarter, cost of sales was 61% of revenue, similar to a year earlier.

Looking Forward: Expectations for the company’s next quarter performance are higher than they were ninety days ago. Over the past three months, the average estimate for the fourth quarter has risen to $1.11 per share from $1.09. Over the past three months, the average estimate for the fiscal year has climbed from $3.02 per to share to $3.12.

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).

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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

 

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