NORDSTROM Reports Q3 FY2024 Earnings Results
December 5, 2023
🌥️Earnings Overview
NORDSTROM ($NYSE:JWN) announced their earnings results for the third quarter of FY2024, which concluded on October 31 2023. Total revenue was USD 3320.0 million, representing a drop of 6.4% compared to the same period in the prior year. Net income for the quarter totalled USD 67.0 million, compared to a net loss of -20.0 million in the same quarter of the preceding year.
Share Price
On Tuesday, NORDSTROM reported its third quarter earnings results for FY2024. The stock opened at $14.8 and closed at $14.9, a 1.8% decrease from its last closing price of $15.2. Overall, NORDSTROM’s third quarter was a success, as the company showed strong growth compared to the corresponding quarter in the previous year. Moving forward, investors will be closely watching to see if the company can continue to sustain its current momentum and post consistent growth each quarter. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Nordstrom. More…
| Total Revenues | Net Income | Net Margin |
| 14.59k | 119 | 2.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Nordstrom. More…
| Operations | Investing | Financing |
| 813 | -526 | -206 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Nordstrom. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 9.01k | 8.28k | 4.49 |
Key Ratios Snapshot
Some of the financial key ratios for Nordstrom are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 7.9% | -16.0% | 1.6% |
| FCF Margin | ROE | ROA |
| 2.0% | 20.7% | 1.6% |
Analysis
GoodWhale has conducted an analysis of NORDSTROM‘s financials, and based on the Star Chart, we classify the company as a ‘cow’. This is a type of company that has a track record of paying out consistent and sustainable dividends. Investors who may be interested in such a company include those looking for a steady income stream, possibly retirees seeking to supplement their pension. We assign NORDSTROM an intermediate health score of 6 out of 10. This is due to its strong cashflows and moderate amount of debt, suggesting that the company is likely to safely ride out any crisis without the risk of bankruptcy. From our analysis, we conclude that NORDSTROM is strong in asset, dividend, and profitability, but weak in growth. 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 third quarter FY2024 financial results indicate a slight decline in total revenue by 6.4% from the same period in the previous year. Net income, however, showed a major improvement from -20 million to 67 million. These figures are promising for investors, pointing to a positive growth trend in the company’s performance.
With strategic investments, NORDSTROM should be able to further optimize its profitability and long-term growth potential. Investors should closely monitor the company’s performance in upcoming quarters to get a better understanding of its future prospects.
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