Nordstrom (NYSE:JWN) earnings for the luxury department store company’s third quarter of 2019 have JWN stock soaring after markets closed on Thursday. The report includes diluted earnings per share of 81 cents on revenue of $3.67 billion. Wall Street was expecting 64 cents per share and $3.67 billion for the quarter.
Here’s what else is worth noting about the most recent Nordstrom earnings report.
- Diluted EPS is 20.90% higher than the 67 cents from the same time last year.
- Revenue comes in 2.13% lower compared to $3.75 billion in the third quarter of 2018.
- The Nordstrom earnings report also includes a net income of $126 million.
- That’s an 88.06% increase from the company’s net income of $67 million in the same period of the year prior.
Erik Nordstrom, co-President of Nordstrom, says this about the earnings report.
“Our third quarter earnings exceeded expectations, demonstrating substantial progress in the delivery of our strategy and strength of our operating discipline. Through our customer focus, we drove broad-based improvement in top-line trends. The consistent strength of our inventory and expense execution contributed to increased profitability for the quarter.”
The Nordstrom earnings report also includes an update to its 2019 outlook. The company tightened its diluted guidance to between $3.30 and $3.50. That has the low end above Wall Street’s estimate of $3.29.
JWN stock was up 8.28% in after-hours trading on Thursday. The stock closed out the day up 1.03%. It’s down 28.52% since the start of the year.
As of this writing, William White did not hold a position in any of the aforementioned securities.