Nordstrom Q4 Earnings Beat, CFO Moves to Starbucks

Nordstrom Inc. reported stronger-than-expected fourth-quarter results for fiscal 2024, with earnings per share of $1.10, surpassing analysts' expectations of $0.93. The company's revenue totaled $4.32 billion, marginally exceeding the forecasted $4.28 billion, despite a 2.1% decline from the previous year. Comparable sales increased by 4.7% across Nordstrom's department stores and online platforms, with the strongest growth seen in women's apparel, activewear, and men's apparel. The company announced plans to go private, with a deal involving the Nordstrom family and Mexican retailer El Puerto de Liverpool expected to close in the first half of 2025. Nordstrom also revealed that its CFO, Cathy Smith, will depart to join Starbucks, prompting a search for a new CFO. Despite these positive earnings, Nordstrom's stock remained relatively stable, reflecting investor caution amid the transition to a private entity.