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Stock Market & Financial Investment News

News Breaks
May 20, 2014
16:49 EDTJWNNordstrom announces Jamie Nordstrom will now be president of stores
Nordstrom announced that two executive team members, Erik Nordstrom and Jamie Nordstrom, are exchanging roles to further strengthen the company's core commitment to improving the customer experience. Erik Nordstrom, formerly president of stores, will now be president of Nordstrom Direct. Jamie Nordstrom, formerly president of Nordstrom Direct, will now be president of stores. Erik will continue to sit on the Nordstrom Board of Directors. "Customers view us as one Nordstrom our challenge is to act like one Nordstrom," said Erik Nordstrom, President of Nordstrom Direct. "As we work to further leverage our capabilities across Nordstrom stores and Nordstrom.com in what today is a growing $10B regular price business, we believe this move will help us meet that goal."
News For JWN From The Last 14 Days
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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.

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