| Followers | 680 |
| Posts | 141062 |
| Boards Moderated | 36 |
| Alias Born | 03/10/2004 |
Wednesday, May 31, 2023 5:09:21 PM
Nordstrom (JWN) stock jumps after beating sales expectations
By: Investing.com | May 31, 2023
Nordstrom Inc (NYSE:JWN) shares were rising after the department store operator reported better-than-expected sales for the April quarter.
The company reported an adjusted profit of 7 cents a share on revenue of $3.2 billion. Analysts expected a 10-cent loss per share on revenue of $3.1B.
Nordstrom shares were up 9% in after-hours trading.
The retailer confirmed its outlook for fiscal 2023, saying revenue expectations are for a drop of 4% to 6% compared with 2022, but adjusted EPS will range between $1.80 and $2.20. That excludes the effect of winding down locations and its online operations in Canada.
The company said Nordstrom Rack sales trends improved late in the quarter, with the strongest performance in April, driven by the increased penetration of strategic brands in its merchandise mix.
“We are pleased with the progress we’re making against the key priorities we laid out for 2023 as we continue to enhance our overall customer experience, improve Nordstrom Rack performance, increase inventory productivity and optimize our supply chain operations,” said CEO Erik Nordstrom in a statement.
Read Full Story »»»
DiscoverGold
By: Investing.com | May 31, 2023
Nordstrom Inc (NYSE:JWN) shares were rising after the department store operator reported better-than-expected sales for the April quarter.
The company reported an adjusted profit of 7 cents a share on revenue of $3.2 billion. Analysts expected a 10-cent loss per share on revenue of $3.1B.
Nordstrom shares were up 9% in after-hours trading.
The retailer confirmed its outlook for fiscal 2023, saying revenue expectations are for a drop of 4% to 6% compared with 2022, but adjusted EPS will range between $1.80 and $2.20. That excludes the effect of winding down locations and its online operations in Canada.
The company said Nordstrom Rack sales trends improved late in the quarter, with the strongest performance in April, driven by the increased penetration of strategic brands in its merchandise mix.
“We are pleased with the progress we’re making against the key priorities we laid out for 2023 as we continue to enhance our overall customer experience, improve Nordstrom Rack performance, increase inventory productivity and optimize our supply chain operations,” said CEO Erik Nordstrom in a statement.
Read Full Story »»»
DiscoverGold
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Caveat emptor!
• DiscoverGold
Join the InvestorsHub Community
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
