Nordstrom (NYSE:JWN) Board Authorizes Share Buyback Plan of $800 Million – JWN, SKS, SSI, KSS

Nordstrom, Inc (NYSE:JWN) board has authorized almost $800 million in additional share buybacks and also lifted its quarterly dividend by 11 percent, as the company looks to lift shareholder returns.

The high-end shoe and apparel retailer announced its latest repurchase authorization, which manages through March 1, 2015, will be funded from present cash on hand.

Nordstrom also reported that it is lifted its quarterly dividend by 3 cents to 30 cents per share. The dividend carries a yield of 2.2 percent.

The company previous week announced that its fiscal Q4 earnings moved up 40% as the high-end department store operator logged higher sales.

Shifting reader’s focus to broader market, let us consider market performance of other stocks that significantly affect same sector. Saks Inc (NYSE:SKS) rose +1.16% to settle at $11.35, Stage Stores Inc (NYSE:SSI) moved up +0.66% to end at $24.24 while Kohl’s Corporation (NYSE:KSS) jumped +2.13% to finish at $46.61 on Wednesday.

Nordstrom, Inc. (NYSE:JWN) last session’s volume of 2.43 million shares was surprisingly higher than its average volume of 1.84 million shares. The stock after opening at $52.44 hit high price of $54.00 and then closed at $53.90 by scoring +2.61%.

The liquidity measure in recent quarter results of the company was recorded 2.28 as current ratio and on the other side the debt to equity ratio was 1.64 and long-term debt to equity ratio remained at 1.63. The Company had total cash of $1.28 billion at hand and a book value per share as $9.62 in the most recent quarter.

The stock’s price volatility was 2.57% for a week and 1.88% for a month as well as price volatility’s Average True Range for 14 days was 1.07 and its beta remained at 1.66.

JWN generated revenue of $12.15 billion in the previous twelve months and earned $735.00 million. The Company showed a positive 6.05% in the net profit margin as well as in its operating margin which remained at 10.10%. Company’s annual sales growth for the past five years was 5.99%.

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