Nordstrom Stock Price, News & Analysis

Nordstrom (NYSE: JWN) has announced it will release its third quarter 2024 financial results after market close on Tuesday, November 26, 2024. The company will host a 45-minute conference call at 4:45 p.m. EST, where senior management will discuss Q3 results and provide their 2024 outlook. The call will be accessible via telephone and audio webcast through investor.nordstrom.com. A replay will be available through December 3, 2024, via telephone using Conference ID 13750079 and on the company's investor website.

Nordstrom, Inc. (NYSE: JWN) has announced plans to open two new Nordstrom Rack stores in Florida. The stores will be located in Melbourne and Sarasota, opening in fall 2025 and spring 2026, respectively. The Melbourne store will be a 24,000-square-foot space in The Avenue Viera, while the Sarasota location will be a 27,000-square-foot store in Sarasota Pavilion.

These new stores will offer up to 70% off on-trend apparel, accessories, beauty products, home decor, and shoes from top brands sold at Nordstrom stores. They will also provide services such as online order pickup for Nordstrom.com and NordstromRack.com, easy returns, and alterations at select stores. The expansion aligns with Nordstrom's Closer to You strategy, focusing on delivering a more convenient and interconnected customer experience across stores and digital platforms.

Nordstrom, Inc. (NYSE: JWN) has announced plans to open a new Nordstrom Rack store in Prosper, Texas, scheduled for fall 2025. The 26,000-square-foot store will be located at The Gates of Prosper shopping center, owned by Blue Star Land. This expansion is part of Nordstrom's Closer to You strategy, focusing on delivering a more convenient and interconnected experience across stores and digital platforms.

Nordstrom Rack offers up to 70 percent off on-trend items from top brands sold at Nordstrom stores. The new location will provide services such as online order pickup for Nordstrom.com and NordstromRack.com, easy returns, and alterations at select stores. This addition expands Nordstrom's presence in Texas, where it currently operates 8 Nordstrom stores and 23 Nordstrom Rack stores, generating over 3,800 jobs statewide.

Nordstrom, Inc. (NYSE: JWN) has announced plans to open a new Nordstrom Rack in Hyannis, Massachusetts, in fall 2025. The 25,000-square-foot store will be located in The Landing at Hyannis, a popular shopping center owned and managed by WS Development. This expansion aligns with Nordstrom's Closer to You strategy, focusing on delivering a more convenient and interconnected experience across stores and digital platforms.

The new location will offer up to 70 percent off on-trend apparel, accessories, beauty products, home decor, and shoes from top brands sold at Nordstrom stores. It will also provide services such as online order pickup from Nordstrom.com and NordstromRack.com, as well as easy returns and alterations at select stores. This addition expands Nordstrom's presence in Massachusetts, where it currently operates four Nordstrom stores and seven Nordstrom Rack stores, generating more than 900 jobs statewide.

Nordstrom (NYSE: JWN) has announced plans to open a new Nordstrom Rack store in Holbrook, New York, in fall 2025. The 27,000-square-foot store will be located in The Shops at SunVet, a popular shopping center owned and managed by Regency Centers. This expansion aligns with Nordstrom's Closer to You strategy, focusing on delivering a more convenient and interconnected experience across stores and digital platforms.

Nordstrom Rack offers up to 70 percent off on-trend apparel, accessories, beauty products, home decor, and shoes from top brands sold at Nordstrom stores. The new location will provide services such as online order pickup from Nordstrom.com and NordstromRack.com, as well as easy returns and alterations at select stores. This expansion will increase Nordstrom's presence in New York to five Nordstrom stores and 12 Nordstrom Rack stores, generating over 2,000 jobs statewide.

Cast, a San Francisco-based fine jewelry brand, has partnered with Issa Rae to launch the Braeve Collection. The collection, featuring 22 pieces of 14K Gold, Sterling Silver, Black Onyx, and Cast-created Diamonds, will be available from September 17, 2024, at Cast Boutiques, CastJewelry.com, and select Nordstrom stores and Nordstrom.com. Priced between $250-$5900, the modern and versatile collection aims to make artfully designed jewelry more accessible.

The collaboration reflects Issa's personal jewelry journey and her appreciation for Cast's design, quality, and versatility. Nordstrom's Vice President Fashion Director, Rickie De Sole, expressed excitement about offering customers exclusive access to this unique partnership, highlighting Issa Rae's influence in entertainment and fashion.

Nordstrom (NYSE: JWN) has received a going-private transaction proposal from the Nordstrom family and Liverpool (BMV: LIVEPOL) to acquire all outstanding shares at $23.00 per share in cash. The proposal involves financing through rollover equity, cash commitments, and $250 million in new bank financing, with existing company debt remaining outstanding.

A special committee of independent directors will review the proposal to determine the best course of action for Nordstrom and its shareholders. The committee was formed in response to interest from Erik and Pete Nordstrom in exploring a possible transaction. Morgan Stanley & Co. and Centerview Partners are acting as financial advisors, while Sidley Austin LLP and Perkins Coie LLP are providing legal counsel.

Nordstrom (NYSE: JWN) reported solid second quarter 2024 earnings, with net earnings of $122 million and EPS of $0.72. Adjusted EPS was $0.96, excluding a charge related to supply chain asset impairment. Net sales increased 3.4% compared to the same period in 2023, with total Company comparable sales up 1.9%. The Nordstrom banner saw a 0.9% increase in net sales and comparable sales, while Nordstrom Rack's net sales rose 8.8% with comparable sales up 4.1%. Digital sales grew 6.2%. The company updated its fiscal 2024 outlook, projecting revenue growth between -1.0% to 1.0% and comparable sales growth of 0% to 2.0%. Nordstrom also declared a quarterly cash dividend of $0.19 per share.

Nordstrom (NYSE: JWN) has announced that its board of directors has approved a quarterly dividend of 19 cents per share. The dividend will be payable on September 18, 2024, to shareholders of record at the close of business on September 3, 2024. This decision demonstrates Nordstrom's commitment to providing regular returns to its shareholders and may indicate the company's confidence in its financial stability and future prospects.