Nordstrom, Inc. (JWN), a fashion retailer, has rocketed 34.80% in aftermarket trading session. As a result, the stock was trading at $26.34 when last checked. During Tuesday’s regular trading session, the stock declined by 5.79% and closed the day at $19.54. The surge in aftermarket came after the company announced the Q4 2021 earnings results. Nordstrom had beaten the earnings estimates, making investors buy the stock in huge volumes.
Q4 and FY 2021 Results
On Tuesday, after the closure of the market, JWN announced the Q4 and FY 2021 results. The period ended on 29th January 2022. The company’s net sales during Q4 2021 increased 23% when compared with Q4 2020. The net earnings generated by the company during Q4 2021 were $200 million (or $1.23 per diluted share). For FY 2021, the net earnings were estimated to be $178 million (or the diluted EPS of $1.10).
FY 2022 Outlook
Alongside the financial results, JWN reported the outlook for FY 2022. The company estimated the revenue growth to lie in the range of 5% to 7% compared to the fiscal year 2021. The income tax rate is estimated to remain approximately 27%. The company estimated that the earnings per share to remain between $3.15 and $3.50 during the quarter.
Comments from CEO of JWN
Erik Nordstrom, chief executive officer of JWN, commented that the company has been able to bring advancements into its strategic goals during the quarter. The has been on an unrelenting mission to accelerate the progress. The progress has provided the company with a clear vision to achieve what it intends to achieve in the upcoming quarters.
What’s Ahead for JWN?
Analysts are of the view that JWN stock holds several negative signals at this point, and hence, are expected to perform weakly in the next couple of weeks. Investors should take decisions accordingly to make their investments fruitful.
