Nordstrom Stock Price, News & Analysis

Nordstrom, Inc. (NYSE: JWN) has priced a total of $675 million in senior notes, comprising $250 million of 2.300% senior notes due 2024 and $425 million of 4.250% senior notes due 2031. The offering price for the 2024 Notes is 100% of principal, while the 2031 Notes are priced at 99.922%. The closing date is expected around April 8, 2021. Proceeds will help redeem $600 million in 8.750% senior secured notes, incurring an estimated $78 million premium. The Notes are unregistered and sold exclusively to qualified institutional buyers.

Nordstrom, Inc. (NYSE: JWN) reported Q4 earnings of $0.21 per diluted share, aided by a tax benefit from the CARES Act. Net sales fell by 20% year-over-year but showed a sequential improvement of 600 basis points. Digital sales surged to 54% of total sales, driven by an expanded merchandise selection. The company achieved an operating cash flow of $88 million and plans to address excessive inventory levels in Q1 2021. CEO Erik Nordstrom expressed confidence in the company's long-term growth strategy amid uncertainties, highlighting improved sales trends and operational cash flow.

Tonal announced a partnership with Nordstrom to introduce its intelligent strength training system in 40 Nordstrom locations across 20 states starting March 2021. This collaboration enables customers to experience a full Tonal demo in a dedicated 50 square foot space. Tonal holds over 90% market share in connected strength training and is the only system to combine advanced A.I. software with digital weight. The retail rollout targets flagship stores in major cities, and Tonal's unit retails for $2,995, with financing options available.

Nordstrom (NYSE: JWN) outlines its long-term strategy focused on sustainable shareholder value at a virtual investor event on February 4, 2021. CEO Erik Nordstrom emphasizes the importance of their unique business model and digital-first approach. Key strategies include enhancing market presence in top regions, expanding Nordstrom Rack offerings, and boosting digital sales to represent 50% of total sales. The company forecasts a 25% revenue growth in fiscal 2021, despite an anticipated 20% sales decrease in Q4 2020, while maintaining positive EBIT and cash flow expectations.

Nordstrom, Inc. (NYSE: JWN) will host a virtual investor event on February 4, 2021, at 9:00 a.m. PST. Senior executives will discuss the company’s long-term growth strategy and value creation drivers. The event will last approximately 2.5 hours and can be accessed via a live webcast at investor.nordstrom.com. Attendees are encouraged to register at least 15 minutes prior to the event. Presentation slides will be available for download by day's end, and an archived replay will be accessible for up to one year.

Nordstrom, Inc. (NYSE: JWN) reported a 22% decline in net sales for the nine-week holiday period ending January 2, 2021, compared to the previous year. Despite this drop, the company saw sequential sales improvement, with digital sales rising 23% and comprising 54% of total sales. Notably, gifting items represented 67% of sales. While the company expects positive EBIT and operating cash flow for Q4, it anticipates a 500 basis points decrease in EBIT margin due to lower sales volume and increased costs. A virtual investor event is scheduled for February 4, 2021.

As the holidays near, Nordstrom announces enhanced shopping options to alleviate last-minute gift-giving stress. Customers can utilize services like same-day delivery in NYC, curbside pickup, and complimentary gift wrapping. Additionally, shoppers can browse local inventory through the website for expedited pickup. Notably, holiday gifting experts are available for personalized shopping assistance. These initiatives aim to improve customer experience and ensure timely delivery ahead of December 25.

Nordstrom, Inc. (NYSE: JWN) reported a third-quarter EBIT exceeding $100 million, driven by improved merchandise margins and cost structure adjustments. Although net sales fell 16% year-over-year, digital sales accounted for 54% of total sales, reaching $1.6 billion. Earnings per diluted share stood at $0.34, benefiting from a $0.12 tax benefit under the CARES Act. The CEO highlighted strengthened financial flexibility and positive trends expected to continue into Q4.

Nordstrom has revamped its holiday offerings for 2020, prioritizing safety and health through virtual experiences and in-store events. Key highlights include:

• Virtual Santa Chats: Private 15-minute calls with Santa for $20, benefiting Operation Warm.
• Letters to Santa: Customers can email or drop off letters for Santa, starting November 15 in Canada and November 27 in the U.S.
• Holiday Breakfasts: Select stores will host breakfasts on specific dates, with ticket proceeds going to Operation Warm.
• At-home Activities: Free printable sheets available for family fun.