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Company Earnings Update

Nordstrom (NYSE: JWN) 1Q19 Results: Company Misses Expectations and Lowers Guidance

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Coresight Research

Key Points

  • Nordstrom reported 1Q19 revenues of $3.3 billion, down 3.5% year over year and below the consensus estimate of $3.5 billion. The company’s earnings per share (EPS) declined 55% year over year to $0.23, missing the consensus estimate of $0.43.
  • By category, net sales from the full-price and off-price businesses declined 5.1% and 0.6%, year over year, respectively, both missing the consensus estimate.
  • The company lowered its 2019 guidance and now expects a net sales decline of 2% to flat, versus the prior guidance of growth of 1–2%. Nordstrom projects EPS to be $3.25–3.65 versus the prior EPS of $3.65–3.90.

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