We had a few more retailers report earnings today. Nordstrom (JWN, $38.44, up $1.15), and Abercrombie & Fitch (ANF, 76.19, up $0.11) each announced better-than-expected earnings results for the most recent quarter while Kohl’s (KSS $49.27, down $1.22) reported a decline in its 1Q results.
ANF reported earnings of $62 million, or $0.69/ share, compared to $60 million, or $0.65/ share, last year. Total revenue jumped 8% to $800 million from $742 million. The company beat on earnings per share but came up short in sales from what Wall Street was expecting.
Nordstrom said its sales fell 3.8% to $1.9 billion as profits came in at $119 million, or $0.54/ share, a 10% drop compared to last year. However, because Nordstrom bought back some of its shares over the quarter, they beat Wall Street’s estimates of $0.49/ share.
Kohl’s reported income of $153 million, $0.49/ share, versus $209 million, or $0.64/ share a year ago. Although Kohl’s had sales of $3.6 billion, an increase of 1.5% for the quarter, the company lowered earnings per share for the year to $2.95 to $3.15.
The theme was common all week in what the Retailers are saying. All of them are proving vulnerable to higher food, gas, and commodity costs.
Rick Rouse
Rick@OptionsMentoring.com
