Fashion retailer Nordstrom, Inc. (NYSE: JWN) has reported operating results for the fourth quarter of 2023. The company’s management revealed its financial outlook for fiscal 2024.
- Fourth-quarter net earnings increased to $134 million or $0.82 per share from $119 million or $0.74 per share in the comparable period a year earlier
- Net sales edged up to $4.29 billion in the January quarter from $4.20 billion in the fourth quarter of 2022
- Gross Merchandise Value increased 2% during the quarter compared to the same periods last year
- Digital sales, which represented 38% of total sales in the fourth quarter, decreased 1.7% year-over-year
- Gross profit, as a percentage of net sales, was 34.4% in Q4, up 125 basis points from last year
- Fourth-quarter EBIT came in at $215 million, compared to $187 million in the same period a year earlier
- The company ended the quarter with $1.4 billion in available liquidity, including $628 million in cash
