Nordstrom (JWN.US) surpasses Q4 earnings expectations, private placement anticipated to be completed in the first half of the year.

Nordstrom (JWN.US) achieved or exceeded its 2024 fiscal year expectations in Q4 revenue, comparable sales, and profit, and stated that its private transaction is expected to be completed in the first half of this year. The company reported Q4 revenue of $4.32bn, a 2.3% YoY decrease, $1mn lower than expectations; non-GAAP EPS of $1.10, $0.17 higher than expectations.

Net profit in Q4 was $165mn, EBIT was $242mn. Adjusted EBIT of $273mn, adjusted EPS of $1.10 after deducting private transaction fees and accelerated depreciation.

Total comparable sales in Q4 grew 4.7% YoY compared with the 13-week quarter in 2023.

Women's, sportswear, and men's apparel grew most strongly in Q4 2023 and in 2024.

GMV in Q4 decreased 0.2% YoY, up 3.1% in 2024.

Digital sales decreased 1.8% YoY in Q4, up 2.6% YoY excluding the 53rd week. Digital sales accounted for 38% of total sales in Q4 and 36% of fiscal year sales.

CEO Erik Nordstrom said, "In Q4, customers responded positively to the strong performance of our two brands. We maintained strong momentum throughout the year, with sales and profitability exceeding our expectations."

Nordstrom announced in December last year that it had agreed to be acquired by a group led by Erik Nordstrom, grandson of Nordstrom founder John Nordstrom, and his brother Peter Nordstrom, and Mexican retail chain El Puerto de Liverpool. The acquisition will privatize Nordstrom and bring a strategic new chapter.

Under the terms of the transaction, the Nordstrom family will hold 50.1% of the majority in the new private company, while El Puerto de Liverpool will receive 49.9%, marking the completion of the all-cash transaction.