Welcome to our dedicated page for Nordstrom news (Ticker: JWN), a resource for investors and traders seeking the latest updates and insights on Nordstrom stock.
Nordstrom, Inc. (NYSE: JWN) is a Seattle-based fashion retailer in the family clothing stores segment that regularly issues news on its operations, strategy and customer-focused initiatives. Company news often highlights developments across its Nordstrom, Nordstrom Local and Nordstrom Rack banners, as well as updates related to its digital platforms and financial performance.
Recent announcements include multiple Nordstrom Rack store openings and planned openings in markets such as Flower Mound, Texas; Suwanee, Georgia; Longmont, Colorado; and Lake Grove, New York. These releases describe new store locations, square footage, co-tenants in shopping centers and the role of Nordstrom Rack in the company’s Closer to You strategy, which focuses on providing a convenient and interconnected experience across stores and digital channels.
Nordstrom also publishes news about experiential retail concepts at its Nordstrom NYC Flagship through The Corner, a dedicated space for limited-time pop-up shops and brand takeovers. Examples include New Balance @ The Corner, a three-month installation featuring products, events and experiences, and Nuna at The Corner, a pop-up focused on baby gear, education and community events. These stories provide insight into how Nordstrom works with brand partners and creates immersive experiences for customers.
Investors and followers of JWN can find earnings releases that cover quarterly and annual results, comparable sales, digital sales mix, store counts and liquidity, as well as announcements about dividends and corporate transactions. For example, Nordstrom has reported fourth quarter and full-year earnings and has discussed a definitive agreement for acquisition by members of the Nordstrom family and El Puerto de Liverpool, S.A.B. de C.V. Bookmarking this page helps readers monitor store expansion, experiential initiatives, financial updates and transaction-related news directly from the company’s public communications.
Nordstrom, Inc. (NYSE: JWN) reported a 3.5% decrease in net sales for the holiday period ending December 31, 2022, compared to the previous year. Sales at the Nordstrom banner fell 1.7%, while Nordstrom Rack faced a steeper 7.6% decline. CEO Erik Nordstrom noted a selective consumer spending trend amid a challenging macroeconomic environment. To manage inventory, the company implemented additional markdowns, which they expect will result in a double-digit percentage reduction in year-end inventory. Revised outlook for fiscal 2022 includes revenue growth at the low end of 5-7% and revised EPS forecast of $1.33 to $1.53. Financial results are due on March 2, 2023.
On January 13, 2023, Nordstrom (NYSE: JWN) announced the retirement of Teri Bariquit, its Chief Merchandising Officer, after a 37-year tenure. Bariquit, who became the first CMO in 2019, significantly advanced the company's merchandising strategy, focusing on a digital-first and omnichannel approach. Her leadership contributed to the growth of unowned inventory models and the designer business. Nordstrom is currently conducting a search for her successor to ensure a seamless transition.
Nordstrom (NYSE: JWN) has appointed Atticus Tysen to its Board of Directors, effective January 3, 2023. Tysen brings over 30 years of expertise in engineering and information security, currently serving as senior vice president at Intuit. His previous roles include senior vice president and chief information officer at Intuit, and vice president of engineering at Aveo, Inc. Chairman Brad Tilden stated that Tysen's background will enhance the Board's diversity and address the crucial area of cybersecurity in retail.
Nordstrom, Inc. (NYSE: JWN) has announced a new Nordstrom Rack store opening in Aurora, Colorado, scheduled for fall 2023. The 30,000 square-foot store will be located in the Southlands shopping center, enhancing Nordstrom's presence in Colorado with eight Rack stores and two full-line stores. This new location aims to provide customers with access to discounted brand-name products and improved online order fulfillment services. The addition is part of Nordstrom's strategy to strengthen customer connections and enhance the shopping experience.
Seattle-based fashion retailer Nordstrom (NYSE: JWN) will open a new Nordstrom Rack in Denton, Texas, scheduled for fall 2023. The 25,000 square-foot store will be located in Denton Crossing, a popular shopping center with other renowned retailers. This new location strengthens Nordstrom's Texas presence, bringing the total to 20 Nordstrom Rack stores and eight Nordstrom stores in the state. The strategy aims to improve customer accessibility and enhance the shopping experience, offering discounts up to 70% on top brands.
Nordstrom, Inc. (NYSE: JWN) plans to open a new Nordstrom Rack store in Pinole, California, enhancing its presence with a total of 60 Nordstrom Rack locations in the state. The 23,000 square-foot store is part of the Pinole Vista Crossing shopping center and is set to launch in fall 2023. This expansion aligns with Nordstrom's Closer to You strategy, focusing on customer convenience and online order services. The brand offers discounts of up to 70% on various products, making it a significant source of new customers for Nordstrom.
Nordstrom, Inc. (NYSE: JWN) announced participation in the Morgan Stanley Global Consumer & Retail Conference on December 6, 2022, at 10:15 a.m. EST. CEO Erik Nordstrom and incoming interim CFO Michael Maher will be featured in a fireside chat. The event will be webcast live and archived for later viewing until June 3, 2023. This conference provides an opportunity for investors to gain insights into Nordstrom's operational strategies. Nordstrom continues to focus on customer service, digital innovation, and sustainability as part of its business model.
TD Bank has announced a multi-year extension of its credit card program with Nordstrom, continuing its role as the exclusive issuer of Nordstrom's U.S. Visa and private label credit cards. The partnership, which began in 2015, demonstrates a strong collaboration aimed at enhancing customer engagement and delivering elevated shopping experiences. Both companies emphasize their commitment to innovation and meeting evolving customer needs through rewards and exclusive perks.
Nordstrom, Inc. (JWN) reported third quarter 2022 revenue of $3.5 billion, a 2.9% decrease from the previous year. The company experienced a net loss of $20 million, equating to a loss per share of $0.13. Adjusted EPS stood at $0.20. Digital sales fell 16.4% year-over-year. Despite these challenges, Nordstrom is on track to meet its fiscal 2022 revenue and adjusted EPS goals. The board announced a quarterly cash dividend of $0.19 per share, payable December 14, 2022. Nordstrom continues to innovate with store openings and enhancing supply chain capabilities.
Nordstrom, Inc. (NYSE: JWN) announced a quarterly dividend of 19 cents per share, payable on December 14, 2022. Shareholders on record as of November 29, 2022 will receive this payment. This move demonstrates the company's commitment to returning value to its shareholders amidst a challenging retail environment.