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Strategies & Market Trends : Value Investing

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To: Jurgis Bekepuris who wrote (29325)12/20/2007 11:57:12 AM
From: - with a K  Read Replies (2) of 72293
imho almost all retailers suck at service, especially around holidays. Except perhaps Saks Fifth Avenue.

I would add Nordstrom, JWN. I was in a store last week and it was buzzing with customers and sales people. On my way to the dept. I needed, I was asked 3 times if I could be helped, but maybe that was because I had a lost puppy look about me. :-)

I started a new position in JWN last week. I like the recent insider buying, the brand, the service, and the fundamentals.

Five year weekly chart:

From yesterday's WSJ:

But Barneys New York (a unit of Dubai World) and Nordstrom Inc., in particular, have kicked it up a notch by stationing concierges at several of their highest-profile branches to fulfill an array of customer requests that have nothing to with shopping -- for example, obtaining seats at the best restaurants or arranging admission to the hottest clubs. In return, the stores say they gain new customers and foster deeper loyalty in their old ones. It is another way for retailers to set themselves apart in a world where even the best stores often carry similar brands.

Seattle-based Nordstrom, for instance, has concierge desks in eight of its 101 stores. They are in stores in the largest cities and serve in part as a local chamber of commerce, providing information about the city's sites, best restaurants and other areas of interest. Among other tasks, they also deliver merchandise to people's homes or hotels at no charge.

Market Cap (intraday)5: 8.12B
Enterprise Value (20-Dec-07)3: 10.17B
Trailing P/E (ttm, intraday): 12.21
Forward P/E (fye 03-Feb-09) 1: 11.11
PEG Ratio (5 yr expected): 1.09
Price/Sales (ttm): 0.92
Price/Book (mrq): 6.26
Enterprise Value/Revenue (ttm)3: 1.14
Enterprise Value/EBITDA (ttm)3: 6.796

Profit Margin (ttm): 8.22%
Operating Margin (ttm): 13.59%

Return on Assets (ttm): 14.90%
Return on Equity (ttm): 44.98%

Revenue (ttm): 8.94B
Revenue Per Share (ttm): 35.513
Qtrly Revenue Growth (yoy): 5.30%
Gross Profit (ttm): 3.21B
EBITDA (ttm): 1.50B
Net Income Avl to Common (ttm): 735.29M
Diluted EPS (ttm): 2.87
Qtrly Earnings Growth (yoy): 22.10%

Total Cash (mrq): 107.91M
Total Cash Per Share (mrq): 0.465
Total Debt (mrq): 2.09B
Total Debt/Equity (mrq): 1.599
Current Ratio (mrq): 1.874
Book Value Per Share (mrq): 5.637

Operating Cash Flow (ttm): 175.32M
Levered Free Cash Flow (ttm): -495.52M


Company: JWN
Date: 12/20/2007
Next year's expected earnings: $3.15
EPS growth rate used for estimate: 9% (vs. 11.6% consensus)
Multiple Graham used for estimate: 8.5
Graham Fair Value: $58.77
Current Price: $35.00
$ difference: $23.77
Percent Growth to Fair Value: 67.90%
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