NORDSTROM Reports 2nd Quarter Earnings Results for FY2024
September 7, 2023
🌥️Earnings Overview
NORDSTROM ($NYSE:JWN) announced a total revenue of USD 3772.0 million for the quarter ending August 24 2023, a 7.9% decrease compared to the same quarter of the FY2023. Net income in the same quarter was reported at USD 137.0 million, an 8.7% increase from the year before. These earnings results were reported on July 31 2023.
Share Price
On Thursday, NORDSTROM reported their second quarter earnings results for fiscal year 2024. The results showed that their stock opened at $17.4 but closed at $16.8, a drop of 4.4% from the last closing price of $17.6. This was a disappointing turn of events for investors as they had expected the company to report higher earnings. The results were slightly below analyst expectations, leading investors to become concerned about the future of the company. As a result, the stock dropped substantially in response to the news. This reduced the value of their shares and could be seen as a sign of investor unease with the company’s performance.
It remains to be seen how NORDSTROM will respond to this news in order to turn things around. They may need to adjust their strategy in order to regain investor confidence and encourage more people to buy their stock. Furthermore, they must look to improve their financial performance in order to ensure that their stock does not continue to fall. Overall, NORDSTROM’s second quarter earnings results for fiscal year 2024 were not what investors had hoped for, and the subsequent drop in stock price reflects this disappointment. It is now up to the company to address these issues and regain investor trust in order to ensure future success. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Nordstrom. NORDSTROM_Reports_2nd_Quarter_Earnings_Results_for_FY2024″>More…
| Total Revenues | Net Income | Net Margin |
| 14.82k | 32 | 1.5% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Nordstrom. NORDSTROM_Reports_2nd_Quarter_Earnings_Results_for_FY2024″>More…
| Operations | Investing | Financing |
| 1.04k | -489 | -156 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Nordstrom. NORDSTROM_Reports_2nd_Quarter_Earnings_Results_for_FY2024″>More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 8.8k | 8.13k | 4.17 |
Key Ratios Snapshot
Some of the financial key ratios for Nordstrom are shown below. NORDSTROM_Reports_2nd_Quarter_Earnings_Results_for_FY2024″>More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 6.7% | -16.0% | 0.9% |
| FCF Margin | ROE | ROA |
| 3.7% | 13.6% | 0.9% |
Analysis
At GoodWhale, we have conducted an analysis of NORDSTROM‘s financials and assessed them against our Risk Rating criteria. The analysis concluded that NORDSTROM is a low risk investment in terms of its financial and business aspects. However, while assessing the non-financial risks,GoodWhale detected one risk warning. To access this information, become a registered user of GoodWhale and view the full report. More…
Peers
The retail market is a fiercely competitive one, and nowhere is this more apparent than in the battle between Nordstrom Inc and its rivals Kohl’s Corp, Macy’s Inc, and Chiyoda Co Ltd. All four companies are vying for a share of the market, and each has its own unique strengths and weaknesses. Nordstrom Inc is a leading retailer in the United States, with a strong presence in both online and brick-and-mortar sales. Kohl’s Corp is a close second, with a large number of stores across the country and a growing online business. Macy’s Inc is a bit of an underdog in this fight, but it has a long history and a loyal customer base. Chiyoda Co Ltd is the smallest of the four companies, but it is the only one with a significant presence in Asia.
The competition between these four companies is fierce, and it shows no signs of slowing down. Each company is fighting for a larger share of the market, and they are all doing whatever it takes to win. The customer is the ultimate winner in this battle, as they are the ones who benefit from the lower prices and better selection that come from a competitive market.
– Kohl’s Corp ($NYSE:KSS)
Kohl’s Corp is a large retail company with a market cap of 3.37B as of 2022. The company has a Return on Equity of 16.46%. Kohl’s Corp is a retailer that operates primarily in the United States. The company offers a wide variety of merchandise, including clothing, footwear, and home goods. Kohl’s also offers a variety of services, such as credit card services and gift cards.
– Macy’s Inc ($NYSE:M)
Macy’s Inc is an American department store chain founded in 1858. It is one of the largest department store chains in the United States, with around 850 stores in 45 states. Macy’s Inc has a market cap of $5.14B as of 2022 and a Return on Equity of 40.81%. The company operates Macy’s and Bloomingdale’s department stores, as well as the macys.com and bloomingdales.com websites. Macy’s Inc also owns and operates the Macy’s Thanksgiving Day Parade and the Fourth of July Fireworks Celebration.
– Chiyoda Co Ltd ($TSE:8185)
Chiyoda Co Ltd is a Japanese company that provides engineering, construction, and other services. The company has a market capitalization of 25.03 billion as of 2022 and a return on equity of -2.63%. The company’s main businesses include oil and gas, chemicals, power, and infrastructure. Chiyoda has been involved in some of Japan’s largest projects, including the Tokyo Skytree and the Tokyo Olympics Stadium.
Summary
Nordstrom‘s second quarter earnings for FY2024 showed a decrease in total revenue of 7.9%, down to USD 3772.0 million from the previous year. However, the company reported a rise in net income of 8.7%, to USD 137.0 million, suggesting improved financial performance in the quarter. Despite this, the stock price moved down on the same day, which could be due to a combination of factors such as market sentiment and expectations of investors. With this in mind, investors should continue to monitor Nordstrom’s quarterly results to gain a better understanding of the company’s financial health and long-term prospects.
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