$JWN (+0,64 %) 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