Nordstrom Earnings Preview: Is the High-End Consumer Better Off?
NEW YORK (TheStreet) -- Retailers that cater to middle and low income consumers, Wal-Mart Stores
"The retail environment remains challenging in the U.S. and our international markets, as customers are cautious in their spending," Wal-Mart's CFO Charles Holley said in the company's earnings release on Thursday.
Might we see the same struggles at Nordstrom?
Nordstrom sits in the luxury retail consumer sector, pitting it against the likes of Saks
Nordstrom shares were little changed at $59.59 in midday trading.
The consensus among analysts is for Nordstrom to post earnings of 88 cents a share on revenue growth of 9% year over year to $3.29 billion.
On the one hand, Nordstrom's earnings could exceed Wall Street expectations. Sales "rebounded" in the second quarter at Bloomingdales, which is owned by Macy's.
"Bloomingdale's had a very strong second quarter, both in stores and online. This performance was much improved in comparison to the first quarter, which is very encouraging," Macy's CFO Karen Houget said on the call yesterday.
Following Nordstrom's first quarter earnings which fell short of Wall Street expectations, Blake Nordstrom, the company's principal executive officer and president, noted during its earnings call in May that the fiscal second quarter "is a particularly high-volume period for us," given the company's semi-annual sales and its Anniversary Sale in mid-July.