Nordstrom Beats After Macy's Soars On Earnings, Kohl's Reverses Up

Macy’s ( M ) and Kohl’s ( KSS ) reported mixed results Thursday, while Nordstrom ( JWN ) topped views, offering hints as to just what kind of holiday season retailers are in for as shoppers continue to shift to Amazon ( AMZN ) and other online sites.

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Peer J.C. Penney ( JCP ) reports Friday, but has tumbled to record lows since warning of weak sales and guidance late last month.

Department stores and other retail groups have been among the very worst stock performers over the past year.

Nordstrom

Estimates : EPS to tumble 25% to 63 cents a share as sales notch up 1.7% to $3.6 billion.

Results : EPS of 67 cents, or 71 excluding effects of hurricanes, on sales of $3.63 billion. Same-store sales fell 0.9%, worse than Consensus Metrix estimate for a 0.4% dip, with Nordstrom brand comps down 1.9% and Nordstrom Rack comps up 5.5%.

Outlook : Nordstrom cut the high end of its full-year EPS forecast to $2.85-$2.95 from $2.85-$3.00, vs. consensus views for $2.95, but still sees net sales rising 4% with comps about flat. Nordstrom trimmed its full-year outlook for retail earnings before interest and taxes to $755 million-$785 million from $790 million-$840 million.

Stock : Nordstrom fell 3.6% late. Shares closed up 4.5% at 40.03. Nordstrom’s stock has been on a sharp downturn since early October, as reports emerged that the Nordstrom family’s talks to take the company private were flailing.

Macy’s

Estimates : EPS of 19 cents on revenue of $5.32 billion.

Results : EPS of 23 cents on revenue of $5.28 billion. Same-store sales fell 4% on an owned basis, worse than views for a 2.8% drop.

Outlook : Full-year adjusted EPS now seen at  $2.91-$3.16, up from a prior view of  $2.90-$3.15.

Stock : Macy’s dipped 1% late. Shares jumped 11% to 19.50 on the stock market today . Macy’s stock has more than halved this calendar year as retailers’ struggles plod on, going into the holiday season.

IBD’S TAKE : Amazon’s moving in on retailers’ turf, in more ways than one. The e-commerce giant’s private label lines are giving clothing stores a run for their money.

Kohl’s

Estimates : EPS to drop 10% to 72 cents as sales edge down 0.6% to $4.3 billion.

Results:  EPS of 70 cents on sales of $4.33 billion.

Outlook : Full-year EPS now seen at $3.60-$3.80 vs. a prior view of $3.50-$3.80.

Stock : Shares edged up 0.9% to 41.17 after sinking 6% earlier. The stock’s 50-day line recently crossed above its 200-day line, a bullish sign, but shares breached support at the shorter-term moving average late last month and are close to slicing their 200-day as well.

Kohl’s recently began accepting Amazon returns at some stores.

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