MW Nordstrom's better-than-expected earnings fail to ignite stock ahead of going-private transaction
Nordstrom Inc.'s stock was flat early Tuesday, after the department-store chain posted better-than-expected fourth-quarter earnings and said it's on track with a plan to go private later this year.
"Customers responded positively to the strength of our offering across both banners in the fourth quarter," Chief Executive Erik Nordstrom said in prepared remarks.
The company $(JWN)$ said its agreement to go private with backing of its founding family and Mexican retailer El Puerto de Liverpool (MX:LIVEPOLC.1) was on track to close in the first half, after which its shares will no longer be traded.
The company posted per-share earnings of 97 cents, up from 82 cents a year ago. Adjusted for one-time items, it had EPS of $1.10, ahead of the 93-cent FactSet consensus.
Revenue rose to $4.323 billion from $4.293 billion a year ago, also head of the $4.284 billion FactSet consensus.
Same-store sales rose 4.7%, while FactSet was expecting a 1.8% decline.
(This is a breaking news story. Check back for updates)
-Ciara Linnane
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March 04, 2025 08:42 ET (13:42 GMT)
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