Nordstrom (JWN) Tops Q2 EPS by 11c, Raises FY Outlook
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(Updated - August 11, 2016 4:09 PM EDT)
(Updated corrects comps figure)
Nordstrom (NYSE: JWN) reported Q2 EPS of $0.67, $0.11 better than the analyst estimate of $0.56. Revenue for the quarter came in at $3.65 billion versus the consensus estimate of $3.68 billion.
Comps were down 1.2%
|Quarter Ended||Six Months Ended|
|July 30, 2016||August 1, 2015||July 30, 2016||August 1, 2015|
|Sales||Comp %||Sales||Comp %||Sales||Comp %||Sales||Comp %|
|Nordstrom full-line stores - U.S.||$||1,978||(6.5||%)||$||2,097||0.8||%||$||3,560||(7.0||%)||$||3,796||0.7||%|
|Total Retail segment||3,871||3,775||7,129||6,966|
Nordstrom sees FY2016 EPS of $2.60-$2.75, versus the consensus of $2.57.
FISCAL YEAR 2016 OUTLOOK
The Company updated its annual earnings per diluted share expectations to incorporate its second quarter results. Nordstrom's expectations for fiscal 2016 are as follows:
|Prior Outlook||Current Outlook|
|Net sales (percent)||2.5 to 4.5 increase||2.5 to 4.5 increase|
|Comparable sales (percent)||1 decrease to 1 increase||1 decrease to 1 increase|
|Retail EBIT (percent)||10 to 20 decrease||10 to 15 decrease|
|Credit EBIT||$70 to $80 million||Approximately $80 million|
|Earnings per diluted share (excluding the impact of any future share repurchases)||$2.50 to $2.70||$2.60 to $2.75|
For earnings history and earnings-related data on Nordstrom (JWN) click here.
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