March 4, 2019 3 minutes

Nordstrom (NYSE: JWN) 4Q18 Results: Soft Traffic at Full-Price Stores Penalizes Sales

Primary Analyst: Coresight Research

Company Earnings Update

Executive Summary

Net sales declined 4.7% to $4.4 billion, comps declined 1.6% in full-price and rose 4% in the off-price division.
Operating margin was flat at 7.6%, reflecting modest gross margin contraction offset by SG&A expense leverage.
For 2019, the company expects net sales to grow 1-2%, lower than the consensus estimate of 2.8%, and projected EPS to be $3.65- to $3.90, ranges in line with the consensus estimate of $3.67.

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