Yearly reports were presented by the electric car manufacturer, Lucid, and two retailers: Nordstrom and Target. As for Ford, it shared interesting news about company restructuring.

Lucid report: revised production volume forecast for 2022

On Monday 28 February, Lucid – the manufacturer of luxurious electric cars – presented its financial reports for Q4 and the whole of 2021. The main statement was that the expected production volume in 2022 was to be reduced from 20,000 cars to 12,000-14,000 cars.

This news disappointed investors and analysts, and this was immediately reflected in the stock prices of the car manufacturer. On 1 March, the trading session closed with the shares of Lucid Group Inc. (NASDAQ: LCID) falling 13.77% to $24.99.

Over the next trading day, the decline slowed down, and reached a 1.64% total, hitting $24.58. However, on 3 March, Lucid shares dropped 7.93% more, reaching $22.63.

The news about its production goals did not manage to stop the decline. The company reported on the enlargement of the plant in Arizona, and about its plans for a new manufacturing facility in Saudi Arabia in the year to follow.

Important report details

Revenue$26.4 million (+626.3%)$27.1 million (+581.9%)
Loss per share$0.64 (-94.2%)$6.41 (-77.5%)
Net loss$1.1 billion (+250%)$2.6 billion (+271.4%)

Nordstrom report: dividend payments to start again

On Tuesday 1 March, Nordstrom – the large retailer of fashion clothes, shoes, and accessories for men, women, and children – published its financial report for Q4 and the whole of financial 2021.

The company reported that the revenue and sales volume had almost recovered after a serious decline due to the COVID-19 pandemic. Moreover, the management voiced an optimistic forecast for fiscal 2022.

Nordstrom is expecting revenue to increase 5-7% and Earnings Per Share (EPS) to grow 181-213%. Moreover, there are plans to start paying out dividends again. This had been suspended at the beginning of the pandemic.

On 2 March, the strong statistics of the previous year and the optimistic forecast for this year sent the shares of Nordstrom Inc. (NYSE: JWN) skyrocketing 37.82% to $26.93. However, a correction started soon after, with the stock prices losing 9.9% over Thursday-Friday, reaching $24.26.

Important report details

Revenue$4.5 billion (+23.1%)$14.8 billion (+38%)
EPS$1.26 (+500%)$1.12 (+125.5%)
Net profit$200 million (+506.1%)$178 million (+125.8%)

Target report: yearly profit is over $100 billion

On 1 March, Target Corporation issued its quarterly and yearly reports. The company owns a large network of retail shops for general goods. Target reported that the revenue and profit managed to grow in the period November–January regardless of the increase in operational expenses, and the supply issues.

Moreover, the management of Target Corporation is confident that sales will keep growing in the fiscal year 2022. The corporation even presented the main strategies for bringing the plan to life.

Following these statistics and forecasts, the shares of Target Corporation (NYSE: TGT) rose 9.84% to $219.43. On the next day, 2 March, the growth slowed down, and the share price saw a 2.49% rise to $224.9.

Important report details

Revenue$31 billion (+9.4%)$106 billion (+13.3%)
EPS$3.24 (+17.7%)$14.23 (+63.2%)
Net profit$1.5 billion (+11.9%)$6.9 billion (+59%)

Ford announces restructuring

On Wednesday 2 March, Ford Motor shared its plans to split the production in the Ford Blue and Ford Model e lines. The first line will concentrate on creating combustion engine models while the second one will focus on electric cars.

Ford Model e will be managed by Doug Field, former CEO of Tesla and Apple. As for Ford Blue, it will be managed by Kumar Galhotra, who was previously responsible for the international and US markets at the Ford Motor Company.

On 2 March, the information about restructuring the car giant sent the share price of Ford Motor Company (NYSE: F) up 8.38% to $18.1. However, the price corrected over the next two sessions with the quotes dropping 2.76% and 4.26%, respectively.

Closing thoughts

Lucid reported a serious increase in its quarterly and yearly net losses and revised its forecast production volume for this year. The stock prices reacted with a decline of almost 14%.

Nordstrom shared strong quarterly and yearly financial statistics, as well as a daring forecast for 2022. Also, it promised to start paying out dividends again. Its stock soared about 38% as a result.

In a fresh financial report, Target stated that its yearly revenue had risen over $100 billion for the first time, and the quotes had climbed almost 10%.

The news about restructuring in Ford Motor sent the shares of the company up 8%. As of now, Ford will split electric and combustion engine vehicle lines to run two separate manufacturing divisions.

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