Nordstrom’s sales funk worsens in fiscal 1Q
NEW YORK (AP) — Nordstrom's holiday shopping season malaise carried over into the first months of the year.
The upscale department store chain reported fiscal first-quarter profit Tuesday...
Department store executive Blake Nordstrom dies at 58
NEW YORK (AP) — Blake Nordstrom, who led the upscale department store chain Nordstrom as co-president with his brothers Erik and Peter, has died. He was 58.
The Seattle-based company did not disclose the cause of death, saying Nordstrom passed away unexpectedly early Wednesday. Last month, Nordstrom said that he had been diagnosed with lymphoma, but that his cancer was treatable.
Nordstrom’s guidance undercuts Q3 numbers, stock slides
SEATTLE (AP) — Shares of Nordstrom Inc. slid in after-hours trading Thursday after the department store retailer issued weak guidance for the full year.
The Seattle-based company said it had third-quarter net income of $67 million, or 39 cents per share. Earnings, adjusted for non-recurring costs, came to 67 cents per share.
The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 64 cents per share.
Nordstrom 2Q earnings jump 47 percent as sales grow
SEATTLE (AP) — Upscale department store chain Nordstrom Inc. reported a 47 percent jump in second-quarter earnings on solid sales growth, and it raised its profit outlook for the year.
The Seattle-based company said Thursday it earned $162 million, or 95 cents per share, in the quarter that ended Aug. 4. That's up from $110 million, or 65 cents per share, a year ago.
The results topped the 83 cents per share that analysts surveyed by Zacks Investment Research expected.
NEW YORK (AP) — Upscale department store chain Nordstrom Inc. on Thursday reported better-than-expected profit and total revenue for the first quarter.
But sales at its established stores — a key measure of a retailers' health — showed meager gains.
Shares in the Seattle-based company fell 7 percent in after-market trading.
NEW YORK (AP) — Stocks that moved substantially or traded heavily Wednesday:
General Mills Inc., down $4.42 to $45.51
The Cheerios maker cut its profit forecast after it reported rising costs in the third quarter.
MuleSoft Inc., up $2.24 to $44.24
The software developer agreed to be bought by Salesforce.com for $44.89 a share, or $5.9 billion.
Southwest Airlines Co., down $2.91 to $57.78
The airline said falling fares and other issues are hurting its revenues.
A rejected takeover bid that valued Nordstrom Inc. at about $8.4 billion is pitting the department-store chain’s board against its top executives.
After the company’s founding family put together an offer of about $50 a share in cash, Nordstrom’s independent directors spurned the deal on Monday, saying the price was too low. The board members, who formed a special committee to evaluate a possible transaction, warned the would-be buyers to quickly increase their offer or move on.
Target slips while Ciena and Broadcom move higher
NEW YORK (AP) — Stocks that moved substantially or traded heavily on Tuesday:
Target Corp., down $3.35 to $71.79
The retailer reported strong sales but said expenses rose as it spends more money on its website and revamps stores.
Nordstrom Inc., up 59 cents to $52.49
The department store rejected an offer from the Nordstrom family to take it private.
NEW YORK (AP) — Nordstrom Inc., which has said that members of the founding family are looking into a buyout of the department store chain, reported sales and profits Thursday that fell short of expectations for the quarter that includes the holiday season. Its shares fell nearly 4 percent in extended trading.
The missed targets overshadowed Nordstrom's healthy 2.6 percent increase in sales at established stores, which is a key measure of a retailer's health.
Nordstrom reports $114 million profit after loss a year ago
SEATTLE (AP) — Nordstrom Inc. reported a third-quarter profit of $114 million after reporting a loss a year ago, but the department store operator saw a key sales measure fall and trimmed its outlook for the year. Its shares fell more than 3 percent in extended trading.
Exelixis and Ruby Tuesday rise while Nordstrom and Tesla dip
NEW YORK (AP) — Stocks that moved substantially or traded heavily Monday:
Aramark, up 20 cents to $42.53
The food, facilities and uniform company agreed to make two acquisitions for $2.35 billion.
Tesla Inc., down $4.97 to $350.60
The electric car maker fired several hundred workers.
Exelixis Inc., up $4.26 to $29.02
The company reported positive study results for its cancer drug Cabometyx.
Ruby Tuesday Inc., up 37 cents to $2.36
The restaurant chain agreed to be acquired by NRD Capital.
Nordstrom reports encouraging sales growth, 2Q profit
SEATTLE (AP) — Nordstrom Inc. said its second-quarter profit declined 6 percent, but it reported encouraging sales growth.
The department store chain said Thursday that it earned $110 million, or 65 cents per share, during the quarter. That's down from $117 million, or 67 cents per share, a year ago. The results exceeded the 62 cents per share average expected by 11 analysts surveyed by Zacks Investment Research.
NEW YORK (AP) — Stocks that moved substantially or traded heavily Thursday:
Nordstrom Inc., up $4.15 to $44.63
The department store said members of the Nordstrom family are thinking of buying the company.
Verint Systems Inc., up $1.35 to $43.45
The maker of software for analyzing intercepted communications had a strong first quarter.
Urban Outfitters Inc., down $1.88 to $16.35
The retailer said its sales have fallen more than expected in May and early June.
Nordstrom stock soars as founding family mulls plan to go private
The Nordstrom family is considering taking private its eponymous department store chain as it confronts the deepening troubles in American retailing.
The news, announced early Thursday, sent Nordstrom Inc. stock — listed in 1978 — on its biggest rally in more than eight years.
NEW YORK (AP) — Members of the Nordstrom family including co-presidents Blake, Peter and Erik Nordstrom are considering making an offer to buy out the 70 percent of the department store's stock they don't already own.
Nordstrom Inc. said Thursday that the group also includes President of Stores James Nordstrom and Chairman Emeritus Bruce Nordstrom.
Shares in the department store chain, which have fallen by about a third since December, rebounded more than 10 percent on the news.
SEATTLE (AP) — Nordstrom Inc. said Thursday its overall profit jumped 37 percent at its department stores in the first quarter, but a key sales gauge fell short of Wall Street expectations.
Sales at established stores across the Seattle-based chain declined 0.8 percent in the quarter. Analysts surveyed by FactSet expected Nordstroms to report a dip of only 0.1 percent.
Nordstrom reports better-than-expected quarterly profit
Nordstrom Inc., the department store recently scolded by President Donald Trump, reported a better-than-expected quarterly profit with help from strong sales online and at Nordstrom Rack.
The Seattle-based chain said Thursday that it earned $201 million, or $1.15 per share, for the fourth quarter that ended Jan. 28. Earnings adjusted for non-recurring costs came to $1.37 per share. That exceeds the $1.13 per share that analysts surveyed by Zacks Investment Research were anticipating.
Nordstrom reports 3Q loss
SEATTLE (AP) — Nordstrom Inc. (JWN) on Thursday reported a fiscal third-quarter loss of $10 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Seattle-based company said it had a loss of 6 cents. Earnings, adjusted for one-time gains and costs, came to 84 cents per share.
The results exceeded Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 52 cents per share.