Nordstrom Inc (JWN) shares were declined 8.04% in after-hours on Tuesday, August 24, 2021, and closed the trading at $34.77. In the regular trading session on Tuesday, JWN’s stock gained 3.11%. JWN shares have risen 142.84% over the last 12 months, and they have moved up 13.24% in the past week. Over the past three months, the stock has gained 3.65%, while it has slid down 1.12% over the past six months.
Let’s have a look at its recent news and developments.
JWN recent financial results announcement
On August 24, 2021, Nordstrom, Inc (JWN) reported its second-quarter financial results, which ended on July 31, 2021.
Q2 2021 financial highlights
- JWN total revenue was $3.66 billion in Q2 2021 compared to $ 1.86 billion in Q2 2020.
- Selling, general and administrative expenses were $1.17 billion in Q2 2021 compared to $826 million in Q2 2020.
- It reported a net income of $80 million in Q2 2021 compared to a net loss of $255 million in Q2 2020.
- Earnings per basic share were $0.50 and per diluted share was $0.49 in Q2 2021 compared to earning per basic and diluted share of $1.62 in Q2 2020.
- EBIT was $151 million in the second quarter of 2021, compared with a loss of $370 million during the same period in fiscal 2020,
- As of July 31, 2021, Company had 1.3 billion in available liquidity, including $487 million in cash.
JWN Sneaker donation for kids
On August 16, 2021, Nordstrom Inc (JWN) announced the launch of its annual campaign with the nonprofit Shoes That Fit. For the past 11 years, the fashion retailer has partnered with its customers to provide over 240,000 pairs of brand-new, properly fitting shoes to kids in need in local communities where Nordstrom operates.
JWN new appointment
On July 20, 2021, Nordstrom Inc (JWN) appointed Farrell Redwine as its new Chief Human Resources Officer. She will join the executive team and report to Nordstrom CEO Erik Nordstrom. In this role, Farrell and her team will support more than 55,000 employees at Nordstrom in stores, fulfilment and distribution centres, and corporate centres.
JWN acquired Topshop and Topman brands
On July 12, 2021, Nordstrom (JWN) and ASOS announced that Nordstrom has acquired a minority interest in the Topshop, Topman, Miss Selfridge, and HIIT brands. This investment will help drive the growth of these brands globally, setting the stage for Nordstrom and ASOS to sit alongside a new wider strategic partnership. This innovative partnership will involve unprecedented collaboration and alignment, redefining the traditional retail/wholesale model.
Conclusion
Well, JWN loss in the after-hours is a bit strange because the company’s recent financial results are much improved and there is no other negative news available. We hope that it will return towards positivity in the next trading session.
