Nordstrom reported strong fourth-quarter 2024 earnings, with revenue, comparable sales, and earnings meeting or exceeding the high end of its fiscal outlook. Comparable sales grew 4.7% year-over-year, with Nordstrom banner sales up 5.3% and Nordstrom Rack sales up 3.5%. Adjusted earnings per share (EPS) came in at $1.10, while adjusted earnings before interest and taxes (EBIT) reached $273 million.

For the full fiscal year, Nordstrom reported net earnings of $294 million and an EPS of $1.74. Adjusted EBIT stood at $593 million, representing 4.1% of total sales. The company highlighted strong growth in women’s apparel, activewear, and men’s apparel. Digital sales represented 38% of total revenue for the quarter.

In corporate news, Nordstrom announced that Chief Financial Officer Cathy Smith will be leaving the company to take on a CFO role at another publicly traded firm. A search for her replacement is underway. Additionally, Nordstrom is in the process of going private through an acquisition agreement with members of the Nordstrom family and Mexican retailer El Puerto de Liverpool, expected to close in the first half of 2025.

The company reported an 11.4% increase in inventory, attributed to stronger top-brand investments and higher in-transit stock. Gross profit margins improved by 290 basis points, driven by better markdown timing, improved shrink, and reduced loyalty promotions.

Nordstrom also outlined upcoming store openings, including 17 Nordstrom Rack locations planned for 2025. The company ended the fiscal year with $1.8 billion in available liquidity, including $1 billion in cash.