Nordstrom, Inc. (NYSE:JWN) Q2 2024 Earnings Conference Call August 27, 2024 4:45 PM ET
Company Participants
James Duies - Head, IR
Erik Nordstrom - CEO
Peter Nordstrom - President
Cathy Smith - CFO
Conference Call Participants
Dana Telsey - Telsey Advisory Group
Oliver Chen - TD Cowen
Simeon Siegel - BMO Capital Markets
Lorraine Hutchinson - Bank of America
Alex Straton - Morgan Stanley
Chuck Gron - Gordon Haskett
Blake Anderson - Jefferies
Dylan Carden - William Blair
Paul Lejuez - Citigroup
Operator
Greetings, and welcome to the Nordstrom Second Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. We will begin with prepared remarks followed by a Q&A session. [Operator Instructions] As a reminder, this conference is being recorded.
At this time, I'll turn the call over to Jamie Duies, Head of Investor Relations for Nordstrom. Jamie?
James Duies
Good afternoon and thank you for joining us today. Before we begin, I want to mention that we'll be referring to slides, which can be viewed in the Investor Relations section on nordstrom.com. Our discussion may include forward-looking statements, so please refer to this slide with our safe harbor language.
Participating in today's call are Erik Nordstrom, Chief Executive Officer; Pete Nordstrom, President; and Cathy Smith, Chief Financial Officer, who will provide a business update and discuss the company's second quarter performance. Please note that when discussing our results and outlook, we will be referring to them on an adjusted basis for EBIT, EBIT margin, and earnings per share. Reconciliations to the most directly comparable GAAP measures can be found in our Q2 2024 earnings press release, which is available on our website.
As we begin, I want to acknowledge the company's April 18 announcement of the Board of Directors exploration of potential avenues to enhance shareholder value and formation of a special committee to evaluate any proposal that might be presented by Erik and Pete Nordstrom to take the company private. The special committee will carefully evaluate any proposal that may be received and consider, whether it is in the best interest of Nordstrom and all shareholders. We do not have an update to share on this topic and will not be speaking to it during our call today.
I'll now turn the call over to Erik.
Erik Nordstrom
Thank you, Jamie, and good afternoon, everyone. Thank you for joining us today. I'll begin with our second quarter performance. We delivered solid results in the second quarter with net sales of $3.8 billion and earnings per share of $0.96. We grew net sales as well as comparable sales and expanded margins.