Nordstrom sees net sales 3%-4% on average annualized basis from 2017-2022
Nordstrom has set the following financial targets through fiscal 2022: Net sales are expected to grow 3 to 4 percent on an average annualized basis from 2017 to 2022, which would continue to outpace projected apparel and footwear average annualized market growth of approximately 1 percent. EBIT is expected to grow 5 to 6 percent on an average annualized basis from 2017 to 2022. EBIT margin of 6.1 percent in 2017 is expected to expand by 50 to 80 basis points by 2022. This incorporates steady improvement of 20 to 40 basis points from 2017 to 2020 and 30 to 40 basis points from 2020 to 2022, which reflects the opening of the NYC Tower in fall 2019. Adjusted ROIC is expected to increase from 9.7 percent in 2017 to a mid-teens range over the next five years. Free Cash Flow is expected to increase from $0.6 billion in 2017 to approximately $0.8 billion by 2020 and approximately $1 billion by 2022 as generational investments mature.