Nordstrom (JWN) Misses Q4 EPS by 5c, FY EPS Guidance Falls Short

Nordstrom (NYSE: JWN) reported Q4 EPS of $1.17, $0.05 worse than the analyst estimate of $1.22. Revenue for the quarter came in at $4.19 billion versus the consensus estimate of $4.22 billion.

GUIDANCE:

Nordstrom sees FY2016 EPS of $3.10-$3.35, versus the consensus of $3.53.

FISCAL YEAR 2016 OUTLOOK

In response to its current sales trends, Nordstrom has made adjustments to its operating plan, which included a reduction in expenses and capital investments. The Company's expectations for fiscal 2016 are as follows:

1 Excluding impairment charges of $59 million in 2015, Retail EBIT is expected to have a decrease of 3 percent to an increase of 3 percent relative to last year.

In the first half of fiscal 2016, the Company expects earnings per diluted share to decrease by approximately 30 percent relative to the same period last year due to the following:

• the impact of the sale of the credit receivables in October 2015
• the impact of growth initiatives, including its East coast fulfillment center which opened in August 2015 and new store pre-opening expenses
• the shift of the Anniversary Sale event from the second quarter in 2015 to the second and third quarters in 2016

For earnings history and earnings-related data on Nordstrom (JWN) click here.

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