Nordstrom's earnings are coming as the stock trades near 3-year lows
Elaine Thompson/AP Photos
- Nordstrom is set to report first-quarter earnings on Tuesday afternoon.
- The stock has been a major underperformer, trading near its lowest level since June 2016.
- Ahead of the report, a Credit Suisse analyst called the company's recent full-price store underperformance "alarming."
- Watch Nordstrom trade live.
Nordstrom is scheduled to report first-quarter earnings on Tuesday afternoon, and analysts are looking to see whether the retailer can impress the market the way it did last quarter.While Nordstrom's shares surged following the retailer's fourth-quarter report - as full-year earnings guidance topped expectations and digital sales proved robust - the spike was short-lived. The stock has fallen 21% since the last report, and is now trading near its lowest level in three years.Advertisement
Even with the recent sell-off, the market doesn't yet fully appreciate the "depth of the sales decline" in Nordstrom's core premium business, Credit Suisse analysts led by Michael Binetti said in a note to clients last week.
"Overwhelmingly bearish sentiment currently leaves us Neutral," they said. But our checks have been almost unanimously negative in 1Q."They called Nordstrom's full-price store underperformance "alarming," and said they expect same-store sales, a common measure of retailers' health, to come in flat for the first quarter.
Here's what Wall Street analysts polled by Bloomberg expect Nordstrom to report:
- Revenue: $3.48 billion
- Adjusted earnings per share (EPS): $0.43
- ISRO congratulates Elon Musk’s SpaceX and NASA on a ‘historical first launch’ of human spaceflight
- Haryana is now open for business, no pass needed for travel – but containment zones will remain sealed
- Singapore reports 408 new coronavirus cases a day before lifting "circuit breaker" period
- Dairy intake may not prevent age-related bone loss in women: Study
- Google says its profit from News content 'very small'