Nordstrom, Inc. (NYSE: JWN) has reported a 4.9 percent increase in total company net sales and a 5.8 percent increase in comparable sales for the nine-week holiday period ended January 4, 2025, compared with the same period in 2023. Specifically, for the Nordstrom banner, net sales increased by 3.7 percent, while comparable sales increased by 6.5 percent. On the other hand, Nordstrom Rack banner net sales saw a 7.4 percent increase, with comparable sales increasing by 4.3 percent.
Erik Nordstrom, the CEO of Nordstrom, Inc., attributed the positive holiday sales to the company's efforts to remain competitive in the promotional environment and the strength of its offering. As a result of the strong holiday performance, the company has updated its fiscal 2024 outlook, now expecting revenue growth, including retail sales and credit card revenues, of 1.5 to 2.5 percent, compared to its prior outlook of flat to 1.0 percent growth. Additionally, the company now expects comparable sales growth of 2.5 to 3.5 percent, compared to its previous outlook of 1.0 to 2.0 percent growth.
Nordstrom, Inc. is scheduled to report its fourth quarter and full-year 2024 financial results after the close of the financial markets on March 4, 2025. This report will provide additional detail on the company’s financial performance.
About Nordstrom, Inc. (NYSE: JWN): Nordstrom, Inc. is a retail company that aims to help its customers feel good and look their best. The company's interconnected model allows it to serve customers through physical locations as well as digitally.
Following these announcements, the company's shares moved -0.3%, and are now trading at a price of $24.01. If you want to know more, read the company's complete 8-K report here.
