Nordstrom’s same-store sales growth misses estimates

They issued a “neutral” rating and a $78.00 price objective on the stock. Brean Capital restated a hold rating on shares of Nordstrom in a research note on Thursday, November 5th. They set a buy rating and a $76.00 price objective for the company.

Macy’s slide in sales has lasted several quarters and Mr Lundgren said the company would increase the focus of its turnaround plan, including product mix in stores and more experimentation with online sales. Nordstrom now has a consensus rating of Hold and a consensus price target of $81.74.

Macy’s said it expected same-store sales to fall by 1.8 per cent to 2.2 per cent for the year ending in January. The semiconductors company reported a 4.6 percent rise in quarterly revenue, as it benefited from demand from companies making smartphone and memory chips.

The upscale department store operator delivered earnings of 57 cents per share on $3.33 billion in revenue. The stock has a 50-day moving average of $68.18 and a 200 day moving average of $73.51. The stock closed up 1.85% at $63.47, with a 52-week range of $61.06 to $83.16, and the after-hours reaction was down a sharp 20% at $50.67.

Shoppers delayed buying back-to-school items to August, from the traditional start in July, and this benefited Kohl’s third quarter instead of the second, said Neil Saunders, chief executive officer of retail research firm Conlumino.

Oil declined ahead of a report by the Energy Information Administration on Thursday, which is expected to show U.S. crude inventories rose for a seventh week in a row last week, according to a report by industry group American Petroleum Institute and a Reuters poll. During the same period in the prior year, the business posted $0.95 EPS. This was down from $142 million, or $0.73 per share, in last year’s third quarter.

The firm also recently declared a dividend, which was paid on Tuesday, October 27th. Shareholders of record on Monday, October 12th were given a $4.85 dividend. The ex-dividend date of this dividend was Wednesday, October 7th.

Nordstrom, Inc.is a trend specialty retailer in the usa.

Retail is a tough business. Two Nordstrom also manages complete-line stores in Canada. Credit section includes its wholly owned federal savings bank, Nordstrom fsb, through which it provides two Nordstrom VISA charge cards a private label credit card along with a debit card. As of December February 02, 2013, the Company had opened two Nordstrom Rack stores (Boston, MA and Upland, California).