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March 2, 2021, 4:36 p.m. EST

Nordstrom tops quarterly views, promises better inventory management

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    Nordstrom Inc. (JWN)

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By Claudia Assis

JWN

Shares of Nordstrom Inc. /zigman2/quotes/203902116/composite JWN +5.98% fell more than 1% in the extended session Tuesday after the retailer beat analyst expectations for its fourth-quarter profit and sales but detailed inventory snags. Nordstrom said it earned $33 million, or 21 cents a share, in the quarter, compared with $193 million, or $1.23 a share, in the year-ago period. Revenue fell to $3.65 billion from $4.54 billion a year ago. Analysts polled by FactSet expected Nordstrom to earn 16 cents a share on sales of $3.58 billion. Heading into the holidays, Nordstrom experienced delays in inventory flow, which led to higher inventory levels at the end of the year, it said. "Heading into 2021, we're taking steps to improve our inventory position," Chief Executive Erik Nordstrom said in a statement. For the first quarter, Nordstrom guided for revenue to grow more than 25%, with online sales representing about 50% of sales. Shares of Nordstrom ended the regular trading day down 1%.

/zigman2/quotes/203902116/composite
US : U.S.: NYSE
$ 36.89
+2.08 +5.98%
Volume: 2.99M
April 21, 2021 3:45p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$5.49 billion
Rev. per Employee
$172,823
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