Nordstrom Stock Price, News & Analysis

Nordstrom, Inc. (NYSE: JWN) plans to open two new Nordstrom Rack locations in fall 2022, enhancing their market presence in Phoenix, Arizona, and Riverside, California. The Phoenix store will be at Desert Ridge Marketplace, spanning 23,500 square feet, while the Riverside location at Canyon Springs Marketplace will cover 30,000 square feet. These expansions aim to attract new customers and strengthen Nordstrom's position in key markets by providing significant savings on popular brands and enhancing customer shopping experiences.

Nordstrom, Inc. (NYSE: JWN) announced the appointment of Amie Thuener to its Board of Directors, effective March 15, 2022. Thuener brings over 25 years of finance and accounting experience, having served as Vice President and Chief Accounting Officer at Alphabet since 2018. Her role involved overseeing global financial reporting and finance teams for Alphabet's Other Bets. The chairman of the Nordstrom Board expressed confidence in Thuener's ability to contribute significantly as the company navigates the evolving retail landscape.

Nordstrom, Inc. (NYSE: JWN) has reinstated its quarterly dividend at 19 cents per share. The dividend will be payable on April 13, 2022, to shareholders on record by March 28, 2022. This decision reflects the company's commitment to returning value to its shareholders following its operational strategies to enhance customer experience through both in-store and digital platforms.

Nordstrom (NYSE: JWN) reported fourth quarter 2021 earnings of $200 million, or $1.23 per diluted share, reflecting strategic growth initiatives. The company achieved a 23% increase in net sales compared to Q4 2020, though sales decreased by 1% compared to Q4 2019. Gross merchandise value rose 24% year-over-year. For fiscal 2021, net earnings totaled $178 million and EBIT was $492 million. Looking ahead, Nordstrom anticipates a revenue growth of 5-7% for fiscal 2022 and earnings per share between $3.15 and $3.50. The firm plans to improve Nordstrom Rack performance and inventory management.

Nordstrom (NYSE: JWN) will report its fourth quarter 2021 financial results on March 1, 2022, after market close. Following this, a conference call will be held at 4:45 p.m. EST, where management will discuss the results and provide the 2022 outlook. The call can be accessed via audio webcast on the company’s investor relations website. Recorded replays will be available for one year. Nordstrom aims to enhance customer experience through its digital-first platform, promoting convenience and connection in shopping.

Nordstrom announced plans to relocate its Nordstrom Rack store to a new site at The Summit in Birmingham, AL, with an opening scheduled for spring 2023. The new store will span approximately 27,000 square feet and is part of a mixed-use retail and entertainment destination featuring other renowned retailers. The relocation aims to enhance customer access to premium brands at discounted prices. The Nordstrom Rack division is pivotal for attracting new customers, offering savings of up to 70% on leading brand apparel and accessories.

Nordstrom, Inc. (NYSE: JWN) reported third-quarter net earnings of $64 million, or $0.39 per diluted share, with EBIT of $127 million. Net sales rose by 18% compared to Q3 2020 but fell by 1% against Q3 2019. The Anniversary Sale positively impacted net sales by approximately 200 basis points versus 2019. Digital sales represented 40% of total sales, decreasing by 12% against 2020 but increasing by 20% compared to 2019. The company aims to reduce its leverage ratio to about three times by year-end and anticipates over 35% revenue growth for fiscal 2021.

Nordstrom has announced a long-term partnership with Fanatics, enabling Nordstrom.com customers to access a broad array of licensed sports merchandise. This collaboration will introduce a brand new sports fan product category to Nordstrom's online platform, fulfilling orders through Fanatics' agile supply chain. With items from top leagues like the NFL, NCAA, and NBA, this initiative aligns with Nordstrom's strategy to enhance online offerings and meet customer demand ahead of the gifting season. The partnership seeks to leverage technology and data for improved product personalization.

Nordstrom, Inc. (NYSE: JWN) will release its third quarter 2021 financial results on November 23, 2021, after market close. A conference call will follow at 4:45 p.m. EST, where senior management will discuss these results and provide insights on the 2021 outlook. The call can be accessed via audio webcast or by phone. For those unable to attend live, a replay of the call and materials will be available on their investor relations website for one year.