Nordstrom (JWN) Q1 Revenue Tops Consensus, Offers Outlook

Nordstrom (NYSE: JWN) reported Q1 EPS of ($1.05), may not compare to analyst estimate of ($0.57). Revenue for the quarter came in at $2.92 billion versus the consensus estimate of $2.9 billion.

• Loss per diluted share of $1.05 included a debt refinancing charge of $0.41 per share.

FISCAL YEAR 2021 OUTLOOK:

The Company has reaffirmed the following financial expectations for fiscal 2021: • Revenue, including retail sales and credit card revenues, is expected to grow more than 25 percent • Earnings before interest and taxes (“EBIT”) margin is expected to be approximately 3 percent of sales • Income tax rate is expected to be approximately 27 percent • Leverage ratio is expected to be approximately 3x by year-end • For the first half of the year, EBIT is expected to be approximately breakeven, reflecting approximately 45 percent of total year sales

For earnings history and earnings-related data on Nordstrom (JWN) click here.

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