Hot Growth Stocks To Own For 2017: Nordstrom Inc.(JWN)
Advisors' Opinion:- [By Micheal Brown]
Nordstrom (JWN) is a high end department store that is well known in the United States of America. It was founded by John W. Nordstrom and Carl F. Wallin in the year 1901. It began as a shoe retail store but has expanded over the years to retailing clothing’s, fragrances, accessories, handbags, jewelry and cosmetics.
In the first quarter of this year, Nordstrom had amazing miss and ugly guidance reduction; its stock even plunged low about 30% in the last month. It was reported in the first quarter of the year that Nordstrom had earnings of 26 cents per share versus forecasts for 46 cents per share. Its sales were totaled to be $3.19 billion compared to the $3.28 billion which had earlier been estimated. Comparable-store sales fell 1.7%. For the remainder of the year, Nordstrom now foresees earnings of about $2.50 to $2.70 cents a share, down from $3.10 to $3.65 a share previously.
- [By Johanna Bennett] Getty Images
Shares of luxury department store chain Nordstrom (JWN) are getting crushed after hours, falling more than 16% after the company released disappointing first quarter financial results and cut sales and profit forecasts for the full year.
“Our first quarter results were impacted by lower than expected sales. In response we have made further adjustments to our inventory and expense plans,” said Blake Nordstrom, Nordstroms co-president, in a prepared statement.
Retail sector earnings have been a focal point this week, with a several large chains posting gloomy updates. The biggest bust came when Macys (M) disappointed yesterday and slashed its full-year outlook, sending the stock falling 15% and yanking down the entire retail sector.
Earlier today, Kohls (KSS) dropped more than 9% after it posted an unexpected drop in sales.
The rout in retail stocks has fueled worries about consumer s! pending and even the broader economy, which were outlined in detail today by my colleague Randy Forsyth in his column, Up and Down Wall Street.
Profit per share fell more than expected, dropping to 26 cents from 66 cents a share last year, missing the consensus of 47 cents. Revenue remained flat to last year at $3.2 billion compared to the $3.3 billion forecast by analysts.
Same-store sales dropped 1.7% during the quarter, though the same metric rose 4.6% for its Rack line of off-price stores.
Nordstrom now says same store-sales could fall this year. The retailer sees full-year 2016 comparable sales running a range from a 1% decline to a 1% rise, compared to the previous predictions for sales to remain flat or rise.
Nordstrom also cut its full-year EPS expectations to $2.50 to $2.70, from the previous forecast of $3.10 to $3.35.
At $39.93, Nordstrom fell 16.1% during after hours trading.
- [By WWW.THESTREET.COM]
One theme that's become apparent is that consumers are betting that a Trump tax cut will lead to more money in their pockets. That's good news for the so-called "trade-up" stocks like Nordstrom (JWN) and Kohl's (KSS) .
- [By Jim Robertson]
I'm not going to dig deep into their financials, but trust me when I say we are not fans of Lululemon Athletica Inc. (LULU), The Kroger Co. (KR) and Nordstrom Inc. (JWN) right now As you can see with JWN, although the stock has done well of late, it's clearly in a long-term downtrend, one I don't think will end until the stock finds its way down below $30 per share. That's a far cry from where it is now, but depending on what the rest of the markets do, it's definitely achievable. However, we're going to keep a bit of a shorter leash on this particular idea considering its recent strength.
source from Top Stocks For 2015:http://www.topstocksblog.com/hot-growth-stocks-to-own-for-2017.html
