Nordstrom Inc

JWN

Equity

ISIN US6556641008 / Valor 957350

New York Stock Exchange, Inc (2024-12-24)

USD 24.21+0.17%

Nordstrom Inc
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About company

Nordstrom Inc is a luxury department store chain offering a wide range of high-end fashion and beauty products.

Summarized from source with an LLMView SourceSector: Consumer Services

Net Sales Growth

In the first quarter of 2024, Nordstrom Inc's total company net sales increased by 5.1 percent, and comparable sales rose by 3.8 percent compared to the same period in fiscal 2023. The wind-down of Canadian operations negatively impacted total company net sales by 75 basis points.

Nordstrom Rack Performance

Nordstrom Rack banner net sales saw a significant increase of 13.8 percent, and comparable sales grew by 7.9 percent in the first quarter of 2024 compared to the same period in fiscal 2023. This strong performance highlights the positive momentum within the Rack segment.

Gross Profit and Expenses

Gross profit, as a percentage of net sales, was 31.6 percent, which decreased by 225 basis points compared to the same period in fiscal 2023. Selling, general, and administrative expenses, as a percentage of net sales, decreased by 20 basis points to 35.8 percent, primarily due to leverage on higher sales and improvements in variable costs.

Loss and Earnings

Nordstrom Inc reported a loss before interest and taxes of $21 million in the first quarter of 2024, compared to a loss of $259 million during the same period in fiscal 2023. Adjusted earnings before interest and taxes (EBIT) were $50 million, excluding one-time charges related to the wind-down of Canadian operations.

Dividend Declaration

On May 22, 2024, Nordstrom Inc's board of directors declared a quarterly cash dividend of $0.19 per share, payable on June 19, 2024, to shareholders of record at the close of business on June 4, 2024. This reflects the company's ongoing commitment to returning value to its shareholders.

Summarized from source with an LLMView Source

Key figures

31.4%1Y

11.5%3Y

-40.1%5Y

Performance

43.1%1Y

56.8%3Y

67.3%5Y

Volatility