Nordstrom (NYSE: JWN) reported Q4 EPS of $1.37, $0.22 better than the analyst estimate of $1.15. Revenue for the quarter came in at $4.24 billion versus the consensus estimate of $4.35 billion.

FOURTH QUARTER SUMMARY

• Fourth quarter net earnings were $201 million and earnings before interest and taxes (EBIT) was $424 million, or 10.0 percent of net sales, compared with net earnings of $180 million and EBIT of $324 million, or 7.8 percent of net sales for the same period in fiscal 2015.
• Retail EBIT increased $84 million compared with the same quarter last year, reflecting non-operational items in 2016 and 2015. Excluding these items, Retail EBIT increased $12 million, or 3.3 percent.
• Credit EBIT increased $16 million, primarily due to higher credit card revenues.
• Total Company net sales of $4.2 billion for the fourth quarter increased 2.4 percent compared with net sales of $4.1 billion during the same period in fiscal 2015. Total Company comparable sales for the fourth quarter decreased 0.9 percent.
• In the Nordstrom brand, including U.S. and Canada full-line stores and Nordstrom.com, net sales when combined with Trunk Club, decreased 1.1 percent and comparable sales decreased 2.7 percent.
• Across U.S. full-line stores and Nordstrom.com, the top-performing merchandise categories were Women\'s Apparel and Beauty. The younger customer-focused departments in Women\'s Apparel continued to outperform, reflecting strength in denim and collaborations with new and emerging limited distribution brands. The East was the top-performing geographic region.
• In the Nordstrom Rack brand, which consists of Nordstrom Rack stores and Nordstromrack.com/HauteLook, net sales increased 10.7 percent and comparable sales increased 4.3 percent. The East was the top-performing geographic region.
• Retail gross profit, as a percentage of net sales, of 36.0 percent increased 112 basis points compared with the same period in fiscal 2015, reflecting strong inventory execution in addition to reduced competitive markdowns. Inventory declined 2.5 percent which reflected a positive spread of 5 percentage points relative to sales growth.
• Selling, general and administrative expenses, as a percentage of net sales, of 27.6 percent decreased 60 basis points compared with the same period in fiscal 2015 primarily due to asset impairment charges of $50 million in 2015 and a non-operational legal settlement gain of $22 million in 2016. This was partially offset by performance-related costs associated with company performance.
• During the quarter, the Company repurchased 4.0 million shares of its common stock for $189 million. A total of approximately $1.0 billion remains under existing share repurchase board authorizations, including the recent February 2017 authorization. The actual number, price, manner and timing of future share repurchases, if any, will be subject to market and economic conditions and applicable Securities and Exchange Commission rules.

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