Nordstrom (NYSE:JWN) earnings for the company’s fiscal fourth quarter of 2019 have JWN stock taking a tumble after markets closed Tuesday. This is due to its adjusted earnings per share (EPS) of $1.42 missing Wall Street’s estimate of $1.47. The company’s revenue of $4.54 billion also comes in just below analysts’ estimates of $4.56 billion.
Now for a more in-depth look at the most recent Nordstrom earnings report.
- Adjusted per-share earnings are down 4.05% from $1.48 during the same time last year.
- Revenue for the quarter comes in 1.34% higher than the $4.48 billion in the fiscal fourth quarter of 2018.
- The Nordstrom earnings report also includes a net income of $193 million.
- That’s a 22.18% drop compared to the company’s net income of $248 million during the same period of the year prior.
Erik Nordstrom, Chief Executive Officer of Nordstrom, said the following about the JWN stock earnings:
“Through our customer focus, inventory efficiencies and expense discipline, we drove improvement in sales trends in Full-Price and Off-Price, and we increased profitability during the second half of the year. Our 2019 results reflected the accelerated roll out of our market strategy, our strength of Nordstrom Rack’s execution, improved merchandise margins and realized expense savings that were 10 percent above our plan.”
The Nordstrom earnings report also includes its outlook for fiscal 2020. It is expecting adjusted EPS to range from $3.25 to $3.50. Meanwhile, Wall Street’s estimate is for adjusted earnings per share of $3.49 during the year.
JWN stock was down 8.16% after-hours Tuesday, and closed the trading day down 2.9%.
As of this writing, William White did not hold a position in any of the aforementioned securities.