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Nordstrom Misses Street 3Q Forecasts

Nordstrom Inc. on Thursday reported fiscal third-quarter earnings of $81 million. The results missed Wall Street expectations.
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  • Associated Press

SEATTLE, United States — Nordstrom Inc. on Thursday reported fiscal third-quarter earnings of $81 million.

On a per-share basis, the Seattle-based company said it had profit of 42 cents. Earnings, adjusted for non-recurring costs, came to 57 cents per share.

The results missed Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 71 cents per share.

The department store operator posted revenue of $3.33 billion in the period, which also missed Street forecasts. Seven analysts surveyed by Zacks expected $3.37 billion.

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Nordstrom expects full-year earnings in the range of $3.30 to $3.40 per share.

Nordstrom shares have fallen 20 percent since the beginning of the year, while the Standard & Poor's 500 index has fallen nearly 1 percent. In the final minutes of trading on Thursday, shares hit $63.49, a drop of 13 percent in the last 12 months.

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