Nordstrom, Inc. (NYSE:JWN) shares are trading higher by 32.6% at $25.90 Wednesday morning after the company reported better-than-expected fourth-quarter EPS and sales results. The company also issued FY22 guidance.
Nordstrom reported quarterly earnings of $1.23 per share which beat the analyst consensus estimate of $1.02. Nordstrom also reported quarterly sales of $4.38 billion which beat the analyst consensus estimate of $4.35 billion by 1%. This represents a 20% increase over sales of $3.65 billion in the same period last year.
Nordstrom Sees FY22 EPS as low as $3.15 and as high as $3.50. The company sees sales growth of 5-7% year-over-year.
"We advanced our strategic initiatives this quarter, with sequential sales improvement, strong digital growth and a significant increase in profitability," said Erik Nordstrom, chief executive officer of Nordstrom.
"Our team continues to work with urgency to accelerate our progress and invest in our capabilities to better serve customers and profitably grow sales. Our primary focus is on three areas: improving Nordstrom Rack performance, increasing profitability and optimizing our supply chain and inventory flow. Our progress has given us line of sight to achieve in the coming year the financial targets we presented at our 2021 Investor Event," Nordstrom stated.
Nordstrom is a fashion retailer that operates approximately 100 department stores in the U.S. and Canada and approximately 250 off-price Nordstrom Rack stores.
Nordstrom has a 52-week high of $46.45 and a 52-week low of $18.65.
