Department stores face another squeeze. This time, with store credit card revenue [MSNBC.com]
Nordstrom, Inc. (JWN)
Last nordstrom, inc. earnings: 3/3 04:05 pm
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Source: MSNBC.com
In this articleA customer uses a credit card to pay for items January 28, 2022 at a retail shop in New York City.Robert Nickelsberg | Getty ImagesDepartment stores likeacy'sKohl'sStarting this spring, though, those cards will become less lucrative. Late fees for customerswill be capped at $8scheduled to take effect on ay 14The new rule will benefit customers with overdue balances, but will take a bite out of retailers' highly profitable business of making money from customers' credit card swipes and the interest or late fees that get tacked onto their unpaid balances.Specialty retailers with store cards, such asGap,"We are talking about an area of weakness, so any cut in revenue is going to be more important to them than another area of retail," she said.For fiscal year 2023, credit card revenue totaled $619 million for acy's and approximately $475 million forNordstromKohl's reported $924 million in "other" revenue in 2023, a broader category that includes unused gift cards and third-
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JWN
News
- Nordstrom, Inc. (NYSE: JWN) had its price target raised by analysts at JPMorgan Chase & Co. from $15.00 to $17.00. They now have an "underweight" rating on the stock.MarketBeat
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- Here's Why You Should Retain Nordstrom (JWN) in Your Portfolio [Yahoo! Finance]Yahoo! Finance
- Nordstrom to Report First Quarter 2024 Financial Results on May 30 [Yahoo! Finance]Yahoo! Finance
JWN
Earnings
- 3/5/24 - Beat
JWN
Sec Filings
- 4/25/24 - Form SC
- 4/18/24 - Form 8-K
- 4/18/24 - Form SC
- JWN's page on the SEC website