Nordstrom, Inc. JWN is scheduled to release third-quarter fiscal 2024 results on Nov. 26 after the closing bell. This fashion specialty retailer is expected to have witnessed revenue growth in the to-be-reported quarter. The Zacks Consensus Estimate for revenues is pegged at $3.33 billion, which indicates a rise of 0.3% from the figure reported in the year-ago quarter.
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The consensus estimate for earnings is pegged at 23 cents per share, which indicates a decline of 8% from that reported in the year-ago quarter. The consensus mark for earnings has moved up by a penny in the past seven days.
In the last reported quarter, the company surpassed the earnings estimate by 29.7%. Also, it delivered a negative earnings surprise of 17.8%, on average, in the trailing four quarters.
Nordstrom, Inc. Price, Consensus and EPS Surprise
Nordstrom, Inc. price-consensus-eps-surprise-chart | Nordstrom, Inc. Quote
Key Factors to Note
Nordstrom’s top-line results in third-quarter fiscal 2024 are likely to reflect benefits from robust strategic efforts, including the expansion of the reach of Nordstrom Rack and the enhancement of digital capabilities. The company has been focused on the closer-to-you strategy, which aims to link stores and services to expedite deliveries, expand online offerings and add cheaper merchandise at its Rack off-price stores to enrich customers' shopping experiences.
Increased focus on distribution facilities and improved connectivity of physical and digital capabilities are expected to have boosted the company’s performance in the to-be-reported quarter. It has been introducing more premium brands and better assortments at Rack and increasing brand awareness. These efforts are expected to have driven Rack’s performance and overall sales. Our model estimates a 5.3% improvement in sales for the Nordstrom Rack segment in the fiscal third quarter.
Nordstrom has been making efforts to enhance customer experience through faster delivery. Hence, the company remains focused on operational optimization. JWN continues seeking additional efficiencies in flow and improved productivity through inventory management initiatives. These upsides are likely to have contributed to the upcoming results.
The Rack banner also remains on track to increase productivity throughout its network, cut transportation costs, reduce delivery times, and enhance services via faster delivery. The company continues focusing on introducing more premium brands at Rack, better assortment, and increasing brand awareness.
What Does the Zacks Model Say About JWN Stock?
Our proven model conclusively predicts an earnings beat for Nordstrom this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. You can uncover the best stocks before they are reported with our Earnings ESP Filter.
Nordstrom has an Earnings ESP of +5.37% and a Zacks Rank of 2 at present.
Stocks With the Favorable Combination
Abercrombie & Fitch ANF currently has an Earnings ESP of +4.59% and a Zacks Rank of 2. The company is likely to register growth in top and bottom lines when it reports third-quarter fiscal 2024 results. The Zacks Consensus Estimate for quarterly revenues is pegged at $1.2 billion, which indicates an increase of 11.8% from the figure reported in the prior-year quarter.
You can see the complete list of today’s Zacks #1 Rank stocks here.
The consensus estimate for quarterly earnings per share of $2.32 suggests an increase of 26.8% from the year-ago quarter’s reported figure. The Zacks Consensus Estimate for Nordstrom’s earnings has moved up by a penny in the past 30 days.
Urban Outfitters URBN currently has an Earnings ESP of +8.17% and a Zacks Rank of 2. The company is likely to register top-line growth and bottom-line decline when it reports third-quarter fiscal 2024 results. The consensus mark for URBN’s quarterly revenues is pegged at $1.3 billion, which suggests a growth of 4.1% from the figure reported in the prior-year quarter.
The Zacks Consensus Estimate for Urban Outfitters’s earnings has moved up by a penny to 84 cents per share in the past seven days. The consensus estimate indicates a decline of 4.6% from the year-ago quarter’s actual.
Torrid Holdings CURV presently has an Earnings ESP of +23.08% and a Zacks Rank of 2. The company is likely to register growth in the top and bottom lines when it reports third-quarter fiscal 2024 results. The consensus mark for CURV’s quarterly revenues is pegged at $2.8 billion, which suggests 2.7% growth from the figure reported in the prior-year quarter.
The consensus mark for Torrid Holdings quarterly earnings has moved up by a penny in the past 30 days to 3 cents per share. The consensus estimate suggests an increase of 200% from the year-ago quarter’s actual.
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Nordstrom, Inc. (JWN) : Free Stock Analysis Report
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