Nordstrom, Inc. (NYSE: JWN) today announced its fourth quarter and full year 2019 financial results and guidance for fiscal 2020.
The fashion Retailer declared earnings per share for the fourth quarter ended February 1, 2020, of USD 1.23, including charges of USD 0.19 which weren’t part of the Company’s previous outlook and compared to diluted earnings per share of USD 1.48 in the same quarter in the fiscal year before. Net sales grew 1.3% in the fourth quarter and improved year-to-date trends by over 400 basis points.
For full fiscal 2019, Nordstrom reported earnings per diluted share of USD 3.18, excluding charges of USD 0.19 and compared to diluted earnings per share of USD 3.32 in the prior year.
Erik Nordstrom, Chief Executive Officer of Nordstrom, said: “Through our customer focus, inventory efficiencies and expense discipline, we drove improvement in sales trends in Full-Price and Off-Price, and we increased profitability during the second half of the year. Our 2019 results reflected the accelerated roll out of our market strategy, our strength of Nordstrom Rack’s execution, improved merchandise margins and realized expense savings that were 10 percent above our plan.”
For fiscal 2020, the U.S. based Retailer plans to remain committed to increasing its total shareholder returns, maily through gaining market share, increasing profitability and return on invested capital, as well as maintaining disciplined capital allocation.
Nordstrom expects for fiscal 2020 an increase in net sales of 1.5% to 2.5% and earnings per share in the range of USD 3.25 to USD 3.50, including the assumed impact of future share repurchases. The provided financial guidance does not include any potential impact from the current coronavirus situation.
“As we move forward, we are further leveraging digital capabilities and scaling our market strategy to drive sales and earnings growth. The momentum from our investments and market strategy is enabling us to get closer to customers, transforming the way we’re serving them,” added the CEO.