Nordstrom (JWN) Slumps on Q1 Miss, Lowered Outlook; Authorizes $750M Buyback
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Price: $24.66 --0%
Financial Fact:
Earnings before interest and income taxes: 55M
Today's EPS Names:
BTTX, VAXX, ELYS, More
Financial Fact:
Earnings before interest and income taxes: 55M
Today's EPS Names:
BTTX, VAXX, ELYS, More
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Nordstrom Inc. (NYSE: JWN) is trading lower during Thursday's after-hours session following a mess of first-quarter earnings data, FY11 guidance and news of a fresh repurchase program.
Net income was $145 million, or $0.65 per diluted share, 25 percent higher than the $116 million reported in the same quarter last year.
Total revenue rose 11.3 percent to $2.323 billion.
A consensus of analysts had Nordstrom likely reporting EPS of $0.66 on sales of $2.22 billion.
The retailer said same-store sales increased 6.5 percent in the period.
For credit cards, annualized net write-offs decreased from 11.9 percent to 7 percent.
Nordstrom cut its FY11 outlook from $2.95 - $3.10 to $2.80 - $2.95, versus the consensus of $3.11. The company also said it expects to report FY11 comps up 2 - 4 percent.
Nordstrom announced a new $750 million common stock repurchase program, effective through February 3, 2013. A regular quarterly dividend of $0.23 was also approved, yielding 1.9 percent.
Shares of Nordstrom are down just under 2 percent post-market; the stock last traded at $48 even.
Net income was $145 million, or $0.65 per diluted share, 25 percent higher than the $116 million reported in the same quarter last year.
Total revenue rose 11.3 percent to $2.323 billion.
A consensus of analysts had Nordstrom likely reporting EPS of $0.66 on sales of $2.22 billion.
The retailer said same-store sales increased 6.5 percent in the period.
For credit cards, annualized net write-offs decreased from 11.9 percent to 7 percent.
Nordstrom cut its FY11 outlook from $2.95 - $3.10 to $2.80 - $2.95, versus the consensus of $3.11. The company also said it expects to report FY11 comps up 2 - 4 percent.
Nordstrom announced a new $750 million common stock repurchase program, effective through February 3, 2013. A regular quarterly dividend of $0.23 was also approved, yielding 1.9 percent.
Shares of Nordstrom are down just under 2 percent post-market; the stock last traded at $48 even.
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