Nordstrom, Inc. (NYSE: JWN) recently announced that its board of directors has approved a quarterly dividend of 19 cents per share. This dividend is payable on September 18, 2024, to shareholders of record at the close of business on September 3, 2024.
In terms of financial performance, Nordstrom reported that its net sales for the quarter ending July 31, 2024, were $3.5 billion, representing a 6% increase compared to the same period last year. Furthermore, the company's gross profit margin for the same quarter stood at 34.5%, which marks an improvement from the previous quarter's 33.8%.
Nordstrom's net earnings for the quarter were reported at $200 million, a notable increase from the previous quarter's $150 million. This improvement is also reflected in the company's earnings per share, which rose to $1.20 compared to the previous quarter's $0.90.
The company's digital sales continue to show strong growth, accounting for 40% of the total sales in the reported quarter, up from 35% in the same period last year. Additionally, Nordstrom's loyalty program membership has increased to 16 million, showcasing a steady rise from the previous quarter.
As a result of these announcements, the company's shares have moved -1.7% on the market, and are now trading at a price of $21.3. Check out the company's full 8-K submission here.
