Nordstrom (JWN) reported earnings Thur 11 Aug 16 (a/h)

** charts before earnings **

 

** charts after earnings **

 

Nordstrom beats by $0.11, reports revs in-line; guides FY17 EPS in-line, reaffirms FY17 revs guidance :

• Reports Q2 (Jul) earnings of $0.67 per share, excluding non-recurring items,$0.11 better than the Capital IQ Consensus of $0.56; revenues fell 0.2% year/year to $3.59 bln vs the $3.62 bln Capital IQ Consensus.
  • Return on Assets 5.1%, Q1 was 5.9%
  • RoIC 9.1%, Q1 was 10.0%
  • The Company's Anniversary Sale, historically its largest event of the year, performed better than recent trends. This event started one week later in July relative to last year, shifting one week of the event into the third quarter.
• Total Company net sales decreased 0.2 percent and comparable sales decreased 1.2 percent, compared with the same period last year. The Anniversary Sale event shift had an unfavorable comparison to comparable sales of approximately 250 basis points in the second quarter.
• Gross profit, as a percentage of net sales, of 34.3 percent decreased 101 basis points compared with the same period in fiscal 2015, due to increased markdowns to align inventory to current trends and higher occupancy expenses related to new store growth. Through the Company's actions to realign inventory and combined with the strength of its Anniversary Sale, inventory growth of 1.4 percent was in-line with a net sales decrease of 0.2 percent.