Financial Performance - In 2024, Nordstrom reported net earnings of $294 million, representing 2.0% of net sales, with an adjusted EBIT of $593 million or 4.1% of net sales [151]. - Total Company net sales increased by 2.4% to $14.557 billion, with Nordstrom Rack sales rising by 8.0% to $5.167 billion, while Nordstrom sales decreased by 0.5% to $9.390 billion [162]. - Comparable sales for the Company increased by 3.6%, with women's apparel, active, men's apparel, kids, and shoes showing the strongest growth [152]. - Gross profit for fiscal year 2024 was $5,161 million, up $245 million from 2023, with gross profit as a percentage of net sales increasing to 35.5% [168]. - EBIT for 2024 was $495 million, an increase of $244 million from 2023, with an EBIT margin of 3.4% [172]. - Diluted EPS increased to $1.74 in 2024, up $0.92 from 2023, primarily due to higher sales [175]. - Net earnings for fiscal year 2024 were $294 million, significantly higher than $134 million in 2023 and $245 million in 2022, resulting in earnings per share of $1.79 [237]. Sales and Revenue - Digital sales accounted for 36% of total net sales, with a 2.3% increase compared to the previous year [162]. - Comparable sales increased by 3.6% in 2024 compared to 2023, indicating a positive performance trend [164]. - Nordstrom Rack comparable sales rose by 4.7% in 2024 compared to 2023, driven by an increase in both the number of items sold and average selling price [166]. - Total revenues for fiscal year 2024 were $15,016 million, compared to $14,693 million in 2023 and $15,530 million in 2022 [237]. - Net sales for fiscal year 2024 were $14,557 million, an increase from $14,219 million in 2023, but a decrease from $15,092 million in 2022 [321]. Operational Improvements - Operational improvements included the expansion of RFID technology, enhancing inventory accuracy and reducing inventory shrinkage [155]. - The Company launched a digital Marketplace on Nordstrom.com in Q1 2024, featuring over 400 sellers and aiming to scale further in 2025 [154]. - Nordstrom opened 23 new Nordstrom Rack stores in 2024 and plans to open a similar number in 2025, indicating a strong investment strategy [156]. Cash Flow and Investments - Cash and cash equivalents increased to $1,035 million as of February 1, 2025, up from $628 million in 2023, driven by changes in working capital [182]. - Net cash provided by operating activities increased by $646 million from 2023 to 2024, reaching $1,267 million, primarily due to changes in working capital and higher net earnings [186]. - Free Cash Flow for 2024 was $747 million, a significant increase from $54 million in 2023, reflecting improved operating cash flows [198]. - Capital expenditures, net for 2024 were $506 million, down from $534 million in 2023, with technology investments accounting for 56% of total capital expenditures [189]. Debt and Financing - Long-term debt remained relatively stable at $2,618 million as of February 1, 2025, compared to $2,612 million in 2024 [240]. - The company had no outstanding borrowings under the Revolver as of February 1, 2025, maintaining a short-term borrowing capacity of $771 million [330]. - Adjusted debt to EBITDAR ratio was 2.8 as of February 1, 2025, indicating the company's creditworthiness [205]. - Net cash used in financing activities increased by $263 million from 2023 to 2024, totaling $372 million, primarily due to the retirement of 2.30% senior notes [191]. Mergers and Acquisitions - The pending merger with members of the Nordstrom family and Liverpool is expected to close in the first half of 2025, transitioning Nordstrom to a private company [158]. - Nordstrom, Inc. will merge with Norse Holdings, Inc., with shareholders receiving $24.25 per share in cash upon closing [298]. - The merger is subject to certain closing conditions, including shareholder approvals and regulatory clearances [300]. Inventory and Assets - Ending inventory as of February 1, 2025, increased by 11% compared to February 3, 2024, despite a 2% decrease in sales in Q4 2024 [169]. - Merchandise inventories rose to $2,104 million as of February 1, 2025, compared to $1,888 million in 2024 [240]. - Total assets increased to $8,966 million as of February 1, 2025, from $8,444 million in the previous year [240]. - Land, property, and equipment net value as of February 1, 2025, was $3.039 billion, down from $3.177 billion in 2024 [322]. Expenses and Liabilities - SG&A expenses increased to $5,125 million in 2024, representing 35.2% of net sales, primarily due to higher labor costs and supply chain asset impairment charges [170]. - Total advertising expenses for the fiscal year were $318 million, slightly up from $313 million in the previous year [264]. - The company recorded a significant increase in accrued salaries, wages, and related benefits, rising to $424 million from $244 million in the previous year [240]. - Total lease cost, net for fiscal year 2024 was $372 million, an increase of 7.5% from $346 million in 2023 [325]. Accounting Changes - The company changed its accounting method for merchandise inventories from the retail inventory method to the weighted average cost method effective February 4, 2024 [228]. - The cumulative effect of changing the inventory accounting method resulted in a decrease to accumulated deficit of $39 million, net of tax of $14 million [280].

Group 1 - Halper Sadeh LLC is investigating potential violations of federal securities laws and breaches of fiduciary duties related to Nordstrom, Inc.'s sale to members of the Nordstrom family and El Puerto de Liverpool for $24.25 in cash per share [1] - Avalon GloboCare Corp. is undergoing a merger with YOOV Group Holding Limited, with Avalon shareholders expected to own approximately 2.5% to 2.2% of the combined company's common stock upon closing [2] - The firm may seek increased consideration for shareholders, additional disclosures, and other relief on behalf of shareholders, operating on a contingent fee basis [3] Group 2 - Shareholders are encouraged to contact Halper Sadeh LLC for discussions regarding their legal rights and options, with the firm representing investors globally who have experienced securities fraud and corporate misconduct [4]

Core Insights - Nordstrom, Inc. (JWN) reported fourth-quarter fiscal 2024 results with earnings exceeding expectations but a decline in revenue compared to the previous year [1][2] Financial Performance - Adjusted earnings per share (EPS) were $1.10, surpassing the Zacks Consensus Estimate of $0.90, and reflecting a 14.6% increase from $0.96 in the same quarter last year [2] - Total revenues amounted to $4.32 billion, a 2.1% decline year over year, missing the consensus estimate of $4.33 billion [4] - Net sales for the Nordstrom banner decreased 3.7% to $2.76 billion, while sales at Nordstrom Rack increased 1.2% to $1.45 billion [6][7] Sales and Growth Metrics - Comparable sales for the Nordstrom banner grew by 5.3%, while Nordstrom Rack saw a 3.5% increase [6][7] - Digital sales represented 38% of the company's net sales in the fiscal fourth quarter, although they fell 1.8% year over year [7] Profitability and Margins - Gross profit margin expanded by 290 basis points year over year to 37.3%, driven by merchandise margin expansion and improved shrink [8][10] - Adjusted selling, general and administrative (SG&A) expenses as a percentage of net sales were 33.7%, down 130 basis points year over year [11] Earnings Before Interest and Taxes (EBIT) - Adjusted EBIT rose 10.5% year over year to $273 million, with an adjusted EBIT margin expanding 240 basis points to 6.5% [12] Financial Health - As of February 1, 2025, Nordstrom had available liquidity of $1.8 billion, including $1 billion in cash and cash equivalents, and long-term debt of $2.6 billion [13] - The company generated $1.3 billion from operating activities and spent $516 million on capital expenditures in fiscal 2024 [14] Strategic Developments - Nordstrom reached an agreement to acquire all outstanding shares not already owned by the Nordstrom family and El Puerto de Liverpool, expected to close in the first half of 2025 [15]

Nordstrom's founding family is taking the retail chain private with help from a Mexican retailer.Bruce Nordstrom, whose grandfather started the department store in 1901, died last year.Here's how Nordstrom grew from a single location in Seattle into a fashion empire. The descendants of John W. Nordstrom are in the final stages of taking the eponymous department store chain private.Nordstrom's great-grandsons, Pete and Erik, who are now the company's President and CEO, respectively, are working with cousin J ...

About this content About Josh Lamb After graduating from the University of Kent in the summer of 2022 with a degree in History, Josh joined Proactive later that year as a journalist in the UK editorial team. Josh has reported on a range of areas whilst at Proactive, including energy companies during a time of global crisis, aviation and airlines as the sector recovers from the pandemic, as well as covering economic, social and governance issues. Read more About the publisher Proactive financial news and ...

Nordstrom surpassed earnings expectations in its fourth quarter of 2024, driven by effective cost management and digital sales growth, despite inventory and expense challenges.Nordstrom (JWN 0.17%), a fashion retailer known for its flagship stores and Nordstrom Rack discount outlets, reported its fourth quarter 2024 earnings on March 4, 2025. The company exceeded expectations with an adjusted earnings per share (EPS) of $1.10, compared to the consensus estimate of $0.93. Revenue came in at $4.32 billion, sl ...

Nordstrom (JWN) came out with quarterly earnings of $1.10 per share, beating the Zacks Consensus Estimate of $0.90 per share. This compares to earnings of $0.96 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 22.22%. A quarter ago, it was expected that this department store operator would post earnings of $0.23 per share when it actually produced earnings of $0.33, delivering a surprise of 43.48%.Over the last four quarters, t ...

Core Viewpoint - Nordstrom Inc. reported better-than-expected fourth-quarter earnings and is on track with its plan to go private later this year [1] Financial Performance - The department-store chain's stock remained flat early Tuesday following the earnings report [1] - CEO Erik Nordstrom noted that customers responded positively to the strength of the company's offerings across both banners in the fourth quarter [1]

Financial Performance - Fourth quarter net earnings were $165 million, or $0.97 per diluted share, with adjusted EBIT of $273 million and adjusted EPS of $1.10[2][3] - For fiscal year 2024, net earnings were $294 million, with EBIT of $495 million, representing 3.4% of sales; adjusted EBIT was $593 million, or 4.1% of sales[3][11] - Net earnings for the quarter were $165 million, representing a 23.1% increase from $134 million in the same quarter last year[22] - Adjusted EBIT for the year ended February 1, 2025, was $593 million, compared to $567 million in 2024, reflecting a growth of 4.6%[29] - Adjusted EPS for the year ended February 1, 2025, was $2.17, compared to $2.12 for the year ended February 3, 2024, indicating a year-over-year increase of 2.4%[31] - Net earnings for the four quarters ended February 1, 2025, were $294 million, compared to $134 million for the same period in 2024, representing a substantial increase of 119.4%[35] Sales and Revenue - Total Company net sales in the fourth quarter decreased 2.1% but increased 2.5% excluding the 53rd week in fiscal 2023; comparable sales increased 4.7%[4][13] - Nordstrom banner net sales decreased 3.7% in the fourth quarter, while Nordstrom Rack net sales increased 1.2%[4][13] - Digital sales represented 38% of total sales in the fourth quarter, with a decrease of 1.8% compared to the same period in fiscal 2023[13] - Net sales for the quarter ended February 1, 2025, were $4,204 million, a decrease of 2.1% compared to $4,293 million for the same quarter in 2024[22] - Total revenues for the year ended February 1, 2025, increased to $15,016 million, up 2.2% from $14,693 million in 2024[22] - Total net sales for the quarter ended February 1, 2025, were $4,204 million, a decrease of 2.1% from $4,293 million in the same quarter of 2024[32] - Nordstrom Rack net sales increased by 1.2% to $1,445 million for the quarter ended February 1, 2025, compared to $1,427 million in the same quarter of 2024[32] - Digital sales accounted for 38% of total net sales for both the quarter and year ended February 1, 2025, consistent with the previous year[32] Profitability and Margins - Gross profit margin increased to 37.3%, up 290 basis points year-over-year, primarily due to merchandise margin expansion[13] - The gross profit margin for the quarter was 37.3%, up from 34.4% in the same quarter last year[22] - Adjusted ROIC for the year ended February 1, 2025, was 9.3%, up from 8.5% for the year ended February 3, 2024[34] Cash Flow and Assets - Cash and cash equivalents at the end of the year increased to $1,035 million, compared to $628 million at the end of the previous year[26] - Total assets as of February 1, 2025, were $8,966 million, an increase from $8,444 million in 2024[24] - The company reported a net cash provided by operating activities of $1,267 million for the year, significantly higher than $621 million in the previous year[26] - The adjusted EBITDA for the year ended February 1, 2025, was $1,109 million, compared to $1,084 million in 2024, indicating a slight increase[29] - Free Cash Flow for the year ended February 1, 2025, was $747 million, significantly higher than $54 million for the year ended February 3, 2024[44] Inventory and Store Operations - Ending inventory increased 11.4% compared to the same period in fiscal 2023, driven by growth in top brands and higher in-transit inventory[13] - The Company opened 23 stores during fiscal 2024, increasing total store count to 377[15][16] Future Outlook and Transactions - A definitive agreement was reached to acquire all outstanding common shares not owned by the Nordstrom family and El Puerto de Liverpool, expected to close in the first half of 2025[14] - The Company is not providing a fiscal 2025 financial outlook due to the pending transaction[17] - The company anticipates continued growth and improvement in operational efficiency, although specific future guidance was not provided in the release[19] Other Notable Items - The company recognized a charge related to accelerated technology depreciation, impacting both SG&A and depreciation expenses, amounting to $0.07 per diluted EPS for the quarter ended February 3, 2024[30] - Adjusted debt to EBITDAR ratio was 2.8 for the four quarters ended February 1, 2025, indicating a stable leverage position[41]

Core Insights - Nordstrom, Inc. reported fourth quarter net earnings of $165 million, or $0.97 per diluted share, with adjusted EBIT of $273 million and adjusted EPS of $1.10, reflecting strong performance despite a slight decrease in total net sales [1][6][24] - For the fiscal year ended February 1, 2025, net earnings were $294 million, with an EBIT of $495 million, representing 3.4% of sales, and adjusted EBIT of $593 million, or 4.1% of sales [1][7][24] - The company experienced a 2.1% decrease in total net sales for the fourth quarter compared to the previous year, but comparable sales increased by 4.7% [1][6][26] Financial Performance - Fourth quarter total net sales were $4.204 billion, down from $4.293 billion in the same period last year, while full-year revenue increased by 2.2% to $14.557 billion [1][6][18] - Gross profit margin improved to 37.3%, up 290 basis points year-over-year, primarily due to merchandise margin expansion [6][18] - Selling, general and administrative expenses as a percentage of net sales increased to 34.4%, primarily due to higher labor costs and privatization fees [6][18] Sales and Growth - Nordstrom banner net sales decreased by 3.7% in the fourth quarter, while Nordstrom Rack net sales increased by 1.2% [1][6][26] - Digital sales represented 38% of total sales during the fourth quarter, indicating a strong online presence [6][26] - Women's apparel, activewear, and men's apparel showed the strongest growth in the fourth quarter [1][6] Strategic Developments - The company announced a quarterly cash dividend of $0.19 per share, payable on March 26, 2025 [2] - Cathy Smith will step down as CFO to join a global food services company, with a search for her replacement underway [3][4] - A definitive agreement was reached with the Nordstrom family and El Puerto de Liverpool for the acquisition of outstanding shares, expected to close in the first half of 2025 [8] Store Operations - Nordstrom opened 23 new stores during fiscal 2024 and plans to open additional locations in 2025 [9][11] - The company closed one Nordstrom store and three Nordstrom Rack stores during the fourth quarter [11] Liquidity and Capital Structure - The company ended the fiscal year with $1.8 billion in available liquidity, including $1.0 billion in cash [10] - Interest expense decreased to $22 million from $26 million in the same period last year, attributed to the redemption of $250 million in notes [10][18]