Nordstrom (JWN, $17.50) slashes full-year profit forecast
Nordstrom shares fell on Friday, after the retail company lowered its full-year profit outlook.
Nordstrom is now expecting its earnings for its fiscal 2022 year (ending February) to come in the range of $1.50 to $1.70 per share, well below its prior forecast of $2.13 to $2.43 per share. Holiday sales fell to below prepandemic levels. Sales for the nine weeks ending on December 31 slipped -3.5% from last year, with its discount Nordstrom Rack division undergoing a -7.6% decrease.
The company projects full year sales growth at the lower end of its previous forecast of between 5% and 7%.
"The holiday season was highly promotional, and sales were softer than prepandemic levels. While we continue to see greater resilience in our higher income cohorts, it is clear that consumers are being more selective with their spending given the broader macro environment," mentioned CEO Erik Nordstrom. "Still, our team executed well, and we enter 2023 in a stronger position as we prioritized starting the new fiscal year with clean inventory levels, even if this required more markdowns than planned."
Aroon Indicator for JWN shows an upward move is likely
JWN's Aroon Indicator triggered a bullish signal on June 25, 2025. Tickeron's A.I.dvisor detected that the AroonUp green line is above 70 while the AroonDown red line is below 30. When the up indicator moves above 70 and the down indicator remains below 30, it is a sign that the stock could be setting up for a bullish move. Traders may want to buy the stock or look to buy calls options. A.I.dvisor looked at 233 similar instances where the Aroon Indicator showed a similar pattern. In of the 233 cases, the stock moved higher in the days that followed. This puts the odds of a move higher at .
Technical Analysis (Indicators)
Bullish Trend Analysis
Bearish Trend Analysis
Advertisement
General Information
a retailer of apparel, shoes, cosmetics and accessories
Industry DepartmentStores
Advertisement