Nordstrom Brands Don't Subscribe To 'Department Stores Are Dead' Mantra: Analyst Explains Why
Nordstrom Brands Don't Subscribe To 'Department Stores Are Dead' Mantra: Analyst Explains Why
Nordstrom, Inc. (NYSE:JWN) is a compelling partner for brands that do not subscribe to the "department stores are dead" mantra.
Nordstrom, Inc.（紐約證券交易所代碼：JWN）是那些不認同 “百貨商店已死” 口號的品牌的引人注目的合作伙伴。
That's according to BMO Capital Markets analyst Simeon Siegel, one of four experts weighing in on the retailer's first-quarter earnings.
這是根據BMO資本市場分析師西蒙·西格爾的說法，他是權衡該零售商第一季度收益的四位專家之一。
Adjusted losses were 24 cents per share (analysts expected losses of 7 cents per share).
調整後的每股虧損爲24美分（分析師預計每股虧損7美分）。
Here's a glimpse into Siegel's and other experts' reactions to the company's quarterly performance:
以下是西格爾和其他專家對公司季度業績的反應一覽：
- Siegel reiterated the Market Perform rating on Nordstrom, with a price forecast of $20.
- Telsey Advisory Group analyst Dana Telsey reiterated the Market Perform rating on Nordstrom, with a price forecast of $19.
- JPMorgan analyst Matthew R. Boss reiterated the Underweight rating on the stock, with a price forecast of $17.
- BofA Securities analyst Lorraine Hutchinson reiterated the Underweight rating on Nordstrom, raising the price target to $18 from $15.
- 西格爾重申了對諾德斯特龍的市場表現評級，預測價格爲20美元。
- 泰爾西諮詢集團分析師達娜·特爾西重申了對諾德斯特龍的市場表現評級，預測價格爲19美元。
- 摩根大通分析師馬修·博斯重申了對該股的減持評級，預計股價爲17美元。
- 美銀證券分析師洛林·哈欽森重申了對諾德斯特龍的減持評級，將目標股價從15美元上調至18美元。
BMO: Siegel views the company's revenue guidance as conservative, with potential questions surrounding margin improvement.
BMO：西格爾認爲該公司的收入指導是保守的，可能存在與利潤率提高有關的問題。
Nordstrom is clearly challenged, and with historically choppy gross margins, coupled with Rack's relative underperformance among the off-prices and an aggressive fiscal year guidance.
諾德斯特龍顯然面臨挑戰，毛利率歷來波動不定，再加上Rack在低價中表現相對不佳，財年指導也很激進。
The analyst cautioned that although shares appear inexpensive, numbers appear high.
這位分析師警告說，儘管股票看起來很便宜，但數字似乎很高。
Telsey: Nordstrom's topline growth in the first quarter is encouraging, with the full-line segment growth slightly positive for the first time since the third quarter of 2022 and continued double-digit growth at Rack.
泰爾西：諾德斯特龍第一季度的收入增長令人鼓舞，全線細分市場自2022年第三季度以來首次略爲正增長，Rack持續實現兩位數增長。
That said, margin challenges pressured the better topline results, resulting in a significant operating loss and negative earnings in the quarter.
儘管如此，利潤率挑戰給更好的收入業績帶來了壓力，導致本季度出現巨額營業虧損和負收益。
Nordstrom is focused on increasing its digital growth, Rack's store openings, and better customer experience.
Nordstrom專注於促進其數字增長、Rack的門店開業和更好的客戶體驗。
Given the continued merchandising issues in both banners, the lack of earnings growth this year, and limited visibility to significant upside from a potential take-private transaction, the analyst reiterated the Market Perform rating.
鑑於這兩個旗幟都存在持續的銷售問題，今年的收益缺乏增長，以及潛在私有化交易的顯著上行空間的知名度有限，分析師重申了市場表現評級。
JPMorgan: Nordstrom quarterly sales were driven by active (led by recognizable brands including Vuori, Hoka, and Adidas), kids' apparel, and women's apparel segments.
摩根大通：Nordstrom的季度銷售是由活躍的（以Vuori、Hoka和阿迪達斯等知名品牌爲首）、兒童服裝和女裝細分市場推動的。
According to the analyst, with the current backdrop potentially "as good as it gets" for the company, absolute and relative performance remains underwhelming, with 2023 revenue levels below 2019 and EBIT margins below 2019.
這位分析師表示，在當前的背景下，公司可能 “盡其所能”，絕對和相對錶現仍然不佳，2023年收入水平低於2019年，息稅前利潤率低於2019年。
The analyst expects the company's FY24 EPS to be $1.75 and FY25 EPS to be $1.69.
分析師預計，該公司24財年的每股收益爲1.75美元，25財年的每股收益爲1.69美元。
BofA Securities: Hutchinson sees continued risk to sales and profitability for the company, given structural challenges within the department store sector.
美銀證券：鑑於百貨商店行業的結構性挑戰，哈欽森認爲，該公司的銷售和盈利能力仍面臨風險。
According to the analyst, sales have softened in May, but most of the quarter is ahead due to the contribution from the Anniversary Sale (will benefit 2Q sales by 200bp).
根據分析師的說法，5月份的銷售有所疲軟，但由於週年促銷的貢獻（將使第二季度的銷售額增加200個點子），本季度的大部分時間都處於領先地位。
The analyst added that new stores are performing above expectations, underscoring that management reiterated expectations for 22 new Racks this year.
該分析師補充說，新門店的表現超出預期，這突顯了管理層重申了對今年22個新門店的預期。
The analyst maintained F24E EPS of $1.75, lowering FY27 EPS to $1.63 from $1.64.
該分析師維持F24E每股收益爲1.75美元，將27財年的每股收益從1.64美元下調至1.63美元。
Price Action: JWN shares are trading higher by 4.66% to $22.01 at last check Friday.
價格走勢：週五最後一次檢查時，JWN股價上漲4.66％，至22.01美元。
Image: Shutterstock
圖片：Shutterstock
譯文內容由第三人軟體翻譯。