SEATTLE (AP) — Nordstrom Inc. (JWN) on Thursday reported profit that declined by less than 1 percent in its fiscal second quarter, but beat analysts' expectations.
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The Seattle-based company reported earnings of $183 million, or 95 cents per share, compared with $184 million, or 93 cents per share, in the same quarter a year ago. The average estimate of analysts surveyed by Zacks Investment Research was for profit of 94 cents per share.
The company said revenue rose slightly more than 6 percent to $3.39 billion from $3.2 billion in the same quarter a year earlier, and beat Wall Street forecasts. Analysts expected $3.38 billion, according to Zacks.
Nordstrom shares dropped 2.8 percent to $66.75 in after-hours trading. The stock has increased $6.89, or 11 percent, to $68.69 since the beginning of the year, while the Standard & Poor's 500 index has risen roughly 6 percent.