Nordstrom Stock Price, News & Analysis

Nordstrom, Inc. (NYSE: JWN) plans to enhance its retail presence by opening three new Nordstrom Rack stores in Union Gap and Olympia, WA, and Salem, OR in fall 2023. The stores will introduce more customers to the discount retailer's diverse product range. The Union Gap store will feature 28,000 square feet at Valley Mall, while Olympia's store will span 32,000 square feet in Cooper Point Marketplace. The Salem location will occupy 25,000 square feet at Willamette Town Center. This expansion aligns with Nordstrom's Closer to You strategy.

Nordstrom, Inc. (NYSE: JWN) plans to open a new Nordstrom Rack in Delray Beach, FL, in Spring 2023. This 26,000 square-foot store, located in the upscale Delray Place shopping center, aims to enhance customer access by providing online order pickups and returns. With its first location in this community, Nordstrom expects to attract new customers while expanding its presence in Florida, where it will operate 17 Nordstrom Rack stores.

This initiative aligns with Nordstrom's Closer to You strategy, enhancing customer convenience and interconnectivity.

Nordstrom, Inc. (NYSE: JWN) will have CEO Erik Nordstrom and CFO Anne Bramman participate in a fireside chat at the Goldman Sachs Annual Global Retailing Conference on September 8, 2022, at 9:35 a.m. EDT. This session will be webcast live and archived on the investor.nordstrom.com site until February 5, 2023. Nordstrom aims to enhance customer experience through its digital-first platform, maintaining its commitment to service from its origins as a shoe store in 1901.

Nordstrom reported second quarter 2022 net earnings of $126 million and earnings per diluted share (EPS) of $0.77, or adjusted EPS of $0.81. Total company net sales increased 12% compared to fiscal 2021, driven by a 14.7% increase in Nordstrom banner sales. However, customer traffic and demand slowed significantly in late June, particularly at Nordstrom Rack. The company revised its fiscal year outlook, lowering revenue growth expectations from 6-8% to 5-7%, and EPS guidance from $3.38-$3.68 to $2.45-$2.75.

Nordstrom, Inc. (NYSE: JWN) declared a quarterly dividend of 19 cents per share, payable on September 14, 2022. Shareholders of record as of the close of business on August 30, 2022 will receive this dividend. The company emphasizes its commitment to enhancing customer experience in both physical and digital settings, reflecting its longstanding heritage in customer service.

Nordstrom, Inc. (NYSE: JWN) will release its second quarter 2022 financial results on August 23, 2022, after market close. This will be followed by a conference call at 4:45 p.m. EDT, providing insights into the company’s performance and 2022 outlook. Investors can access the live call via telephone or audio webcast at investor.nordstrom.com. The replay will be available for one year, reflecting Nordstrom's commitment to transparency in business updates.

Nordstrom, Inc. (NYSE: JWN) has announced plans to open a new Nordstrom Rack store in Chattanooga, TN, in spring 2023. The 24,000 square-foot store will be part of The Terrace at Hamilton Place, enhancing local access to affordable fashion. This will be Nordstrom's third Rack location in Tennessee, aiming to attract new customers and streamline online order pickups. The expansion aligns with Nordstrom's strategy to enhance store accessibility and strengthen community connections.

Nordstrom, Inc. (NYSE: JWN) is set to open a new Nordstrom Rack store in Bradley Fair, Wichita, KS, in spring 2023. The 28,000 square-foot location will provide customers with access to discounted apparel, accessories, and more, offering up to 70% off on top brands. This move is part of Nordstrom's Closer to You strategy, enhancing customer experience through interconnected services. The new store will be the second Nordstrom Rack in Kansas, complementing their commitment to community engagement, having donated over $1.5 million since 2019 to support mentoring programs.

Nordstrom, Inc. (NYSE: JWN) announced key executive appointments on July 20, 2022. Deniz Anders has been promoted to Chief Marketing Officer after 22 years at the company, focusing on integrated marketing strategies. Nina Barjesteh, formerly of DICK's Sporting Goods, joins as President of the Nordstrom Product Group, aiming to leverage her expertise in private label businesses. The leadership changes are expected to enhance the company's customer-centric approach and product offerings, building on Nordstrom's legacy in the retail sector.