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Nordstrom (JWN) 3Q17 Results: Misses on Comps, Narrows FY17 Earnings Guidance

Executive Summary

  • Nordstrom reported 3Q17 EPS of $0.67, ahead of the $0.63 consensus estimate and compared with a loss of $0.06 in the year-ago quarter. Revenues were $3.63 billion, up 2.5% year over year and slightly above the $3.58 billion consensus estimate.
  • Comps declined by 0.9%, missing the consensus estimate of a 0.3% decline. Comps for Nordstrom full-line stores declined by 4.9%, while comps for were up 7.5%.
  • The company reiterated its full-year guidance of 4% net sales growth and flat comps, but narrowed its EPS guidance downward to $2.85–$2.95 from $$2.85–$3.00 previously.

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