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5The founding family of Nordstrom $JWN is privatizing the department store chain with El Puerto de Liverpool for 6.25 billion dollars, giving me a plus of 58.37% after tax.
PS: A first lawsuit (Trice v. Nordstrom) has already been filed:
https://de.investing.com/news/sec-filings/nordstromaktionar-reicht-sammelklage-ein-93CH-2995175
$JWN Nordstrom Inc. reported earnings
Fiscal 2025 Q3 results ended November 2nd, 2024
- Revenue increased 4.6% YoY to $3.35B
- Net earnings were $46M, down from $67M YoY
- GAAP EPS was $0.27, down from $0.41 YoY
- Total comparable sales up 4.0% YoY
CEO Erik Nordstrom: "The continued sales growth across the company and strong gross margin in the third quarter indicate our team's focus and efforts are working. Our customers have a lot of choices, and our results give us encouragement that we're on the right path."
Revenue & Growth
- Nordstrom banner sales: $2.08B, +1.3% YoY
- Nordstrom Rack sales: $1.27B, +10.6% YoY
- Digital sales: $1.14B (34% of total sales), +6.4% YoY
- GMV increased 5.3% YoY
Profits & Financials
- Gross margin: 35.6%, up 60 bps YoY
- SG&A expenses: 36.6% of sales, up 25 bps YoY
- Operating income: $83M vs $102M YoY
- Cash and equivalents: $397M
- Available liquidity: $1.2B
Business Highlights
- Opened 23 new Nordstrom Rack stores year-to-date
- Women's apparel and active saw double-digit growth
- Shoes, men's apparel and kids up mid to high single-digits
- Inventory increased 5.9% YoY vs sales growth of 4.6%
- Declared quarterly dividend of $0.19 per share
Future Outlook
- FY24 revenue growth: flat to +1.0%
- Comparable sales growth: +1.0% to +2.0%
- GAAP EBIT margin: 3.0% to 3.4%
- Adjusted EBIT margin: 3.6% to 4.0%
- Adjusted EPS: $1.75 to $2.05
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