Nordstorm Inc. (JWN) stock fell a further 23.21% at $24.52 in the aftermarket, at a volume of 4.48 million on November 23. The stock lost 1.21% or $0.39 during the normal trading session, to close at $31.93 on Tuesday. The volume during the trading session was 10.03 million, which was 193% more than the 65-day average of 5.2 million. Intraday trading, JWN stock saw a high of $32.38 and a low of $30.79. While over the past 52 weeks, the stock fluctuated between $46.45 and $23.75. In the past week, the stock has lost 4.66%, while it gained 10.98% in the past month. Moreover, JWN stock has gained a value of 2.31% year to date. Currently, the stock trades at a market capital of $5.14 billion and 158.92 million outstanding shares.
On Tuesday, the stock fell deep after the company missed its third-quarter earnings consensus estimates.
Nordstorm Inc. (JWN)
Founded in 1901, Nordstorm Inc. (JWN) is a fashion retailer, that engages in the manufacture and trade of various items. The company provides apparel, shoes, beauty, accessories, and home goods for people of all ages. It has two segments through which it operates; the Retail segment and the Corporate/Other segment. The Retail segment includes high-quality, brand name, private-label merchandise. While the Corporate/Other segment includes unallocated corporate expenses and assets etc.
Nordstorm Inc. (JWN) is headquartered in Seattle, Washington.
Third Quarter Earnings
On November 23, Nordstorm Inc. (JWN) announced its third-quarter financial results. As per the third quarter, the company had net earnings of $64 million, compared to $53 million of Q3 2020. Accordingly, the net earnings per diluted share were $0.39 for Q3 2021, while it was $0.34 for Q3 2020. The third-quarter earnings per share missed the consensus estimate of $0.56.
Moreover, the net sales for Q3 2021 were $3.64 billion, against $3.08 billion in Q3 2020. JWN’s sales surpassed the estimate of $3.55 billion for the third quarter of 2021. While the sales increased 18% from the previous year but they were still down 1% from the net sales of $3.67 billion in Q3 2019.
In addition, Nordstorm Inc. (JWN) had $867 million in available liquidity including $267 million in cash, at the end of the third quarter of 2021.
The company also reaffirmed its financial expectations for full-year 2021, with revenue growth of more than 35% from the full year 2020.
