Nordstrom reported Q3 2024 net earnings of $46 million, or $0.27 per diluted share, down from $0.41 in Q3 2023. Total net sales increased 4.6% to $3.35 billion, with comparable sales up 4.0%. Nordstrom banner sales rose 1.3% while Nordstrom Rack sales jumped 10.6%. Digital sales grew 6.4%, representing 34% of total sales.Gross profit margin improved to 35.6% from 35.0% last year, driven by strong regular price sales. However, SG&A expenses increased due to higher labor costs and a $14 million charge for accelerated technology depreciation. EBIT decreased to $83 million from $102 million in Q3 2023, which had included a $25 million favorable adjustment related to Canadian operations wind-down.For fiscal 2024, Nordstrom expects total revenue growth of 0% to 1.0% compared to 53-week fiscal 2023. The company ended Q3 with $397 million in cash and $772 million available on its revolving credit facility. Management highlighted progress on key priorities, including driving Nordstrom banner growth, optimizing operations, and building momentum at Nordstrom Rack.

Nordstrom reported Q3 2024 net earnings of $46 million, or $0.27 per diluted share, down from $0.41 in Q3 2023. Total net sales increased 4.6% to $3.35 billion, with comparable sales up 4.0%. Nordstrom banner sales rose 1.3% while Nordstrom Rack sales jumped 10.6%. Digital sales grew 6.4%, representing 34% of total sales.Gross profit margin improved to 35.6% from 35.0% last year, driven by strong regular price sales. However, SG&A expenses increased due to higher labor costs and a $14 million charge for accelerated technology depreciation. EBIT decreased to $83 million from $102 million in Q3 2023, which had included a $25 million favorable adjustment related to Canadian operations wind-down.For fiscal 2024, Nordstrom expects total revenue growth of 0% to 1.0% compared to 53-week fiscal 2023. The company ended Q3 with $397 million in cash and $772 million available on its revolving credit facility. Management highlighted progress on key priorities, including driving Nordstrom banner growth, optimizing operations, and building momentum at Nordstrom Rack.