Nordstrom Price Target Raised to $82.00 at Macquarie (JWN)

During the same quarter last year, the company earned $0.95 earnings per share. Although Nordstrom said that a one-time gain was responsible for a substantial part of the rise, adjusted earnings of $0.93 per share were nevertheless $0.03 more than most investors were looking to see. It also comprises of two full- line shops in Canada, Nordstromrack.com, its two Jeffrey boutiques and HauteLook along with various retail channels along with five Trunk Club showrooms and TrunkClub.com and one clearance store that is operated with the name Last Chance. Credit segment contains its wholly owned federal savings bank, Nordstrom fsb, through which it supplies two Nordstrom VISA credit cards, a private label credit card and a debit card.

Inventory rose 11% from the year-ago period. Its NordstromRack.com and its Haute Look were up 50%.

Total comps improved 4.9% in the quarter, consistent with trends witnessed throughout the year.

In a quarter when the majority of retailers in the department store industry are finding it hard to grow their top line, Nordstrom is standing apart from the rest of the pack.

It’s resulting in a nice boost to the companies shares as well, which have jumped 6.67 percent to $79.92.

Nordstrom’s gross profit margin contracted 6 basis points (bps) to 35.3%. Net income climbed 15%, to $211 million. Moreover, as a percentage of sales, SG&A expenses increased 86 bps to 29.1%, primarily due to elevated expenses related to the Trunk Club acquisition and the Canadian venture, along with higher fulfillment expenses linked to expansion of online footprint. The company earned $3.60 million during the quarter, compared to analyst estimates of $3.67 million. For the current year, research firms are anticipating earnings of 3.740 per share. The firm has a market cap of $14.89 billion and a price-to-earnings ratio of 21.36.

Nordstrom also remains committed to supporting its share price through stock repurchases.

“TextStyle is an important step forward in our continued efforts to develop ways to serve customers on their terms”, Jamie Nordstrom, president of stores, told the publication. 3 P&L Catalysts Through Year-End: (1) Canada NSP Opportunity: Vancouver store (likely 2nd largest store to Manhattan build in ’18) opens Sept 18 with the Toronto/Vancouver flags expected to open at 2x+ the average store base.

There was plenty to be happy about in Nordstrom’s Q2 earnings report on Thursday, but its online stores continue to be the shining star.

Nordstrom Rack will add its third outlet to the Tampa Bay area on September 3 with the grand opening of a store in Clearwater. Brean Capital reiterated a “hold” rating on shares of Nordstrom in a report on Friday.

Moreover, the company raised its FY15 sales growth guidance in the range of to 8.5 to 9.5% from 7 to 9%. 90 with revenue estimates of 3.67B.