Risk-to-Price Commentary: Nordstrom Inc. Nov 11
Standard & Poors, November 2011
Abstract
On Oct. 29, 2011, Nordstrom Inc. reported consolidated unaudited earnings results for the third quarter and for the first nine months of 2011. For the quarter, on total reported revenues of $2.5 billion, EBITDA reached $240 million, compared with $221 million for the same period last year. Normalized earnings per share of $0.59 were 1.7% higher than the S&P Capital IQ consensus. Although Nordstrom's share price has since remained around the level prior to the announcement, it has outperformed the S&P 500 Index by 13% over the last year (see chart 1). Using our Risk-to-Price (R2P) analytics, the Valuation and Risk Strategies (VRS) research team looked at the U.S. retailing subsector to see whether Nordstrom's debentures reflected the company's share...
Companies mentioned in this report are: Target Corp.,May Department Stores Co.,Nordstrom Inc.,Limited Brands Inc,TJX Cos. Inc.,Staples Inc.,AutoZone Inc.,Dollar General Corp.,Macy's Retail Holdings Inc.,GameStop Inc.,O'Reilly Automotive Inc.,Family Dollar Stores Inc.
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Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
Target Corp.,May Department Stores Co.,Nordstrom Inc.,Limited Brands Inc,TJX Cos. Inc.,Staples Inc.,AutoZone Inc.,Dollar General Corp.,Macy's Retail Holdings Inc.,GameStop Inc.,O'Reilly Automotive Inc.,Family Dollar Stores Inc.
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