<p>Nordstrom’s (NYSE: JWN) earnings for the company’s fiscal fourth quarter 2019 have JWN shares falling after the markets closed on Tuesday. This is because the adjusted earnings per share (EPS) of $ 1.42 does not have a Wall Street estimate of $ 1.47. The company’s revenue of $ 4.54 billion is also just below analysts’ estimates of $ 4.56 billion.
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Now for a more in-depth look at Nordstrom’s latest earnings report.
Adjusted earnings per share decreased by 4.05% from $ 1.48 during the same period last year. Revenue for the quarter was 1.34% higher than $ 4.48 billion in the fourth quarter of 2018. Nordstrom’s earnings report also includes a net profit of $ 193 million. This is a decrease of 22.18% compared to the company’s net profit of $ 248 million during the same period last year.
Erik Nordstrom, CEO of Nordstrom, said the following about JWN share income:
“Through our customer focus, inventory efficiency and cost discipline, we improved sales trends in Full Price and Off-Price, and we increased profitability during the second half of the year. Our results for 2019 reflected the accelerated roll-out of our marketing strategy, our strength for Nordstrom Rack’s execution, improved trading margins and realized cost savings that were 10 percent above our plan. ”
Nordstrom’s earnings report also includes the outlook for the 2020 financial year. It expects adjusted earnings to be between $ 3.25 and $ 3.50. At the same time, Wall Street’s estimate for adjusted earnings per share is $ 3.49 during the year.
The JWN share fell 8.16% after Tuesday and closed the trading day with 2.9%.
At the time of writing, William White had no position in any of the above securities.
Article printed from InvestorPlace Media, https://investorplace.com/2020/03/nordstrom-earnings-hammer-jwn-stock/.
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