Nordstrom Reports Third Quarter 2024 Earnings

Nordstrom, Inc. (NYSE: JWN) today reported third quarter net earnings of $46 million, or earnings per diluted share (“EPS”) of $0.27, and earnings before interest and taxes (“EBIT”) of $83 million. Excluding a charge related to accelerated technology depreciation, the Company reported adjusted EBIT of $97 million and adjusted EPS of $0.33.[1]

For the third quarter ended November 2, 2024, net sales increased 4.6 percent versus the same period in fiscal 2023, and total Company comparable sales increased 4.0 percent. Gross merchandise value (“GMV”) increased 5.3 percent. Anniversary Sale timing, with one week shifting from the third quarter to the second quarter, had a negative impact of approximately 100 basis points on net sales compared with 2023. During the quarter, Nordstrom banner net sales increased 1.3 percent and comparable sales increased 4.0 percent. Net sales for Nordstrom Rack increased 10.6 percent and comparable sales increased 3.9 percent.

“The continued sales growth across the company and strong gross margin in the third quarter indicate our team’s focus and efforts are working,” said Erik Nordstrom, chief executive officer of Nordstrom, Inc. “Our customers have a lot of choices, and our results give us encouragement that we’re on the right path. Looking ahead, we’ll continue to improve our shopping experience as we strive to maintain the positive momentum we’ve worked towards all year.”
details at: https://investor.nordstrom.com/news-releases/news-release-details/nordstrom-reports-third-quarter-2024-earnings

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