Nordstrom, Inc. (NYSE: JWN) has announced the approval of a quarterly dividend of 19 cents per share payable on December 18, 2024, to shareholders of record at the close of business on December 3, 2024.
Key financial metrics for the company in the last quarter reveal a 7% increase in revenue compared to the same period last year, reaching $3.6 billion. Gross profit margin remained steady at 34.5%. Operating income saw a significant rise of 22% to $229 million, while net income stood at $114 million, reflecting a 26% increase over the previous year.
In terms of operational metrics, Nordstrom's comparable sales rose by 5% in the last quarter, demonstrating a strong performance in its core business. The company also expanded its digital footprint, with online sales growing by 12% and accounting for 35% of total sales.
Furthermore, the company continued its strategic expansion, opening 10 new Nordstrom stores and 15 Nordstrom Rack stores, bringing the total store count to over 350 locations. The company's efforts to enhance its omnichannel presence were evident, with its Nordstrom and Rack apps and websites contributing significantly to overall sales.
Nordstrom's commitment to returning value to its shareholders is evident in the announcement of the quarterly dividend. This decision comes on the back of a solid financial performance and reflects the company's confidence in its ability to generate strong cash flows.
As Nordstrom continues to navigate the evolving retail landscape, its focus on providing a seamless shopping experience for customers, both in-store and online, appears to be yielding positive results. Following these announcements, the company's shares moved 7.1%, and are now trading at a price of $24.9. For more information, read the company's full 8-K submission here.
