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Nordstrom Inc . (NYSE:JWN), a leading fashion retailer with annual revenues of $15.11 billion, disclosed its financial outcomes for the quarter and year ending February 1, 2025, today. The company, currently valued at $4 billion in market capitalization, also announced the upcoming departure of Chief Financial Officer Catherine R. Smith. According to InvestingPro data, Nordstrom has maintained profitability over the last twelve months, with net income expected to grow this year.
Smith has communicated her intention to resign from her position following the filing of the company’s Annual Report on Form 10-K for the fiscal year ended February 1, 2025. The resignation is expected to take effect within the next month. According to the company’s statement, Smith’s decision to step down is not due to any disagreements with Nordstrom’s accounting practices or financial reporting.
The company’s earnings release, which provides detailed information on its results of operations, financial position as of February 1, 2025, and cash flows for the year, is attached as Exhibit 99.1 to the 8-K filing with the SEC.
Nordstrom’s stock is listed on the New York Stock Exchange under the ticker JWN, alongside its common stock purchase rights. The retailer, headquartered in Seattle, Washington, is known for its wide range of clothing and accessories for the entire family.
The information provided in the earnings release is not considered filed for purposes of Section 18 of the Securities Exchange Act of 1934, nor is it incorporated by reference into any filing under the Securities Act of 1933, except as expressly stated in such a filing.
The announcement is based on a press release statement and reflects the latest developments in Nordstrom’s corporate structure and financial performance. The company remains transparent about its operations, ensuring that shareholders and the market are well-informed of its financial health and executive movements.
In other recent news, Nordstrom Inc. has announced retention bonus agreements for key executives as part of its ongoing merger process with Norse Holdings, Inc. The bonuses are structured to ensure the retention of top management during the merger, with payments spread over three installments. Meanwhile, the Nordstrom family and El Puerto de Liverpool are reportedly nearing an agreement to acquire the remaining shares of the company. The proposed acquisition price is $23.00 per share, excluding shares held by the Nordstrom family and Liverpool, with the deal potentially being finalized soon. Morgan Stanley (NYSE:MS) & Co. LLC and Centerview Partners LLC are serving as financial advisors for the special committee reviewing the proposal. Additionally, Stacy Brown-Philpot has resigned from Nordstrom’s Board of Directors, reducing the board’s size by one. The company expressed gratitude for her contributions and noted there were no disagreements leading to her departure. Furthermore, a Bernstein analyst noted a positive start to the fourth quarter for U.S. apparel retailers, including Nordstrom, driven by favorable weather conditions and strong spending among higher-income consumers.
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