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Investing.com -- Nordstrom (NYSE:JWN) reported better-than-expected earnings and revenue for the fourth quarter of fiscal 2024.
The luxury department store operator reported earnings per share (EPS) of $1.10, ahead of the consensus estimate of $0.92. The company's revenue for the period totaled $4.32 billion, while analysts projected $4.27 billion.
Sales for the Nordstrom brand came in at $2.76 billion, just shy of the $2.77 billion estimate, while Nordstrom Rack generated $1.45 billion, surpassing the forecast of $1.43 billion.
Nordstrom reported adjusted EBITDA of $382 million, missing the consensus estimate of $397.5 million.
Meanwhile, gross margin stood at 37.3%, outperforming the consensus estimate of 35.2%.
"Customers responded positively to the strength of our offering across both banners in the fourth quarter," said Erik Nordstrom, CEO of Nordstrom.
"We maintained the momentum we built throughout the year, which resulted in full-year sales and profitability coming in at the high end of our expectations."
Separately, Starbucks (NASDAQ:SBUX) named Nordstrom's Cathy R. Smith as its new executive vice president and chief financial officer (CFO). Smith served as Nordstrom's executive vice president, CFO and treasurer since 2023.
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