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Stock Market & Financial Investment News

News For JWN From The Last 14 Days
Check below for free stories on JWN the last two weeks.
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August 27, 2014
17:02 EDTJWNNordstrom files to sell common stock, no amount given
11:32 EDTJWNTiffany shines brighter as results beat expectations, company raises outlook
Shares of luxury retailer Tiffany (TIF) are moving higher after the company reported significantly stronger than expected second quarter results and raised its fiscal year 2015 earnings per share view. WHAT'S NEW: Tiffany's reported Q2 EPS of 96c on revenue of $993M, beating analysts' consensus estimates of 85c and $987.88M, respectively. Worldwide net sales increased 7% in Q2 and comparable store sales increased 3% in Q2 mainly due to growth in the Americas and Asia-Pacific regions. Looking ahead, the retailer increased its FY15 EPS view to $4.20-$4.30 from its previous view of $4.15-$4.25, which is in-line with analysts' $4.29 consensus. Tiffany anticipates worldwide net sales increasing by a high-single digit range and sees worldwide net sales increasing by a high-single-digit percentage for the year. The company also sees FY free cahs flow of at least $400M as well as capital expenditures of $270M. WHAT'S NOTABLE: During its conference call discussing the quarter, Tiffany said that it sees a "healthy" increase in its full-year operating margin. The luxury company noted that it experienced continued softness in its U.S. silver sales during Q2 as well as softness in U.S. entry-level sales under $500. In its Japan division, the retailer foresees returning to single-digit sales growth, but noted that the unit has not experienced that so far in the first few weeks of this month. In Europe, the retailer said it is "still feeling" the effect of economic and currency related obstacles. Tiffany sees opening 10 stores throughout the rest of the year, which is lower than its original plan of opening 13, and plans to close three stores this year compared to its original target of closing four. Tiffany also sees a double-digit percentage marketing spend increase in the second-half of this year. ANALYST REACTION: Sterne Agee analyst Ike Boruchow said that as Tiffany continues to surpass expectations in its earnings reports, fashion jewelry in general is growing again and the company's latest "T" collection should quicken that category further. He feels that regardless of the few headwinds in Japan and Europe, the luxury company is still one of the most stable retail firms. Boruchow believes that the CEO transition from Michael Kowalski to Frederic Cumenal is likely to be a "smooth" one in March. The analyst keeps the stock at a Buy rating with a $100.77 price target. OTHERS TO WATCH: Other high end retailers include Signet Jewelers (SIG), Blue Nile (NILE), Nordstrom (JWN), Michael Kors (KORS), and Coach (COH). PRICE ACTION: During late-morning trading, Tiffany rose $1.32 or 1.31%, to $102.09.
06:36 EDTJWNNordstrom, Target launching Instagram platform, CNBC says
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August 22, 2014
13:21 EDTJWNNordstrom completes Trunk Club acquisition
Nordstrom announced the closing on August 22 of its acquisition of Trunk Club. The company previously announced its proposed acquisition of Trunk Club by press release on July 31. The company believes this acquisition represents a natural extension of its core business, aligns with its strategic priorities around a relevant customer experience and accelerates entry into this market.
August 17, 2014
18:10 EDTJWNInvestors should buy Nordstrom over Macy's, Barron's says
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August 15, 2014
12:39 EDTJWNOn The Fly: Midday Wrap
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10:30 EDTJWNJ.C. Penney falls despite posting a narrower than expected Q2 loss
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10:18 EDTJWNNordstrom management to meet with Piper Jaffray
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09:10 EDTJWNOn The Fly: Pre-market Movers
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August 14, 2014
19:08 EDTJWNOn The Fly: After Hours Movers
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16:26 EDTJWNNordstrom sees Trunk Club acquisition dilutive to FY14 EPS by 3%-5%
On July 31, Nordstrom announced that it entered into an agreement to acquire Trunk Club, a personalized clothing service for men. Trunk Club is a high-growth company and expects to achieve operational profitability and more than double its annual sales to over $100M. The company believes this acquisition represents a natural extension of its core business, aligns with its strategic priorities around a relevant customer experience and accelerates entry into this fast-growing market. The company will acquire Trunk Club for $350M in Nordstrom stock, a portion of which is retention-based and subject to future vesting. In addition, the transaction includes a long-term management incentive plan of up to $100M subject to Trunk Club's performance. The transaction is expected to be dilutive to earnings per diluted share for the next several years primarily due to share issuance, performance incentives and amortization of intangibles. The company estimates the acquisition, including Trunk Club’s projected operating performance, will reduce earnings per diluted share in FY14 by 3%-5%. Trunk Club will operate as an independent, wholly-owned subsidiary and will be managed by its current leadership. The transaction is expected to close in the third quarter, subject to closing conditions including customary regulatory and shareholder approvals.
16:09 EDTJWNNordstrom to open three full-line stores later this year
Nordstrom plans to open three full-line stores (The Woodlands, Texas; Calgary, Canada and Jacksonville, Florida) later this year. To date in fiscal 2014, the company opened 11 Nordstrom Rack stores and plans to open 16 additional stores during the remainder of the year. In the second quarter, the company opened a Nordstrom Rack store in Manhasset, New York.
16:08 EDTJWNNordstrom narrows FY14 EPS view to $3.80-$3.90 from $3.75-$3.90
FY14 consensus $3.90. Narrows FY14 net sales growth view to 6.5%-7.5% from 5.5%-7.5%, consensus $13.42B. Narrows FY14 comparable store sales growth view to 3%-4% from 2%-4%.
16:05 EDTJWNNordstrom reports Q2 EPS 95c, consensus 95c
Reports Q2 revenue $3.3B, consensus $3.39B. Total company comparable sales for the second quarter increased 3.3%.
15:03 EDTJWNNotable companies reporting after market close
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13:24 EDTJWNNordstrom August 67 straddle priced for 4.6% move into Q2
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12:05 EDTJWNNordstrom technical commentary ahead of results
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