Nordstrom recently announced an earnings beat for the first quarter of 2018. The report included positive results for its revenues and profits. However, it was not enough to pull back its lagging sales growth. The news effected its shares during the release as well.
During the quarter, the total company net sales recorded a data of 5.8 percent year-over-year. Comparable sales also experienced a 0.6 percent during the said period in a year-over-year basis as well.
Furthermore, Nordstrom also announced its plans and concepts to win back shoppers. In a rather recent execution, the company opened an LA branch which currently lacks inventory.
However, the new store still functions well thanks to personal stylists. These staff takes orders for its clients.
Additionally, the fashion brand also erected a branch in Manhattan which caters to men’s fashion. It features the same services such as the same-day delivery for a $20 fee as well.
“The company does not plan to comment further on go-private effort exploration process by the Nordstrom family.” Trina Schurman investor relations director Trina Schurman told reports.
As mentioned, shares of Nordstrom also experienced a sharp decline. The session recorded a $3.61 plunge to $47.30.
Nordstrom 2018 Outlook
Furthermore, Nordstrom also set its forecast for the whole 2018. It is announced that the company is expected to post a full-year earnings of $3.35 to $3.55 per share for 2018. Also, the revenue is expected to be at $15.2 billion to $15.4 billion for the coming quarters.
According to Analysts, profits are estimated to be around $3.43 per share. Along with it, revenue is set to be around $15.7 billion for the year.
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