Nordstrom Shares Rise After Retailer Tops Views, Sales Rise

By Claudia Assis Markets MarketWatch Pulse

Shares of Nordstrom Inc. rose more than 4% late Thursday after the retailer reported quarterly earnings above expectations and rising sales. Nordstrom earned $110 million, or 65 cents a share, in the second quarter, compared with $117 million, or 67 cents a share, in the year-ago period. Revenue rose to $3.79 billion, from $3.65 billion a year ago. Analysts polled by FactSet had expected earnings of 64 cents a share on sales of $3.75 billion. Nordstrom's anniversary sale, historically its largest event of the year, "performed better than recent trends," the company said in a statement. Comparable-store sales rose 1.7% compared with the second quarter of 2016. Nordstrom also updated its full-year 2017 per-share earnings guidance, saying it expects per-share earnings between $2.85 and $3 for full-year 2017, from a previous guidance of $2.75 and $3 for the year. Shares had ended the regular trading day down 4.3%.

Continue Reading Below

Copyright © 2017 MarketWatch, Inc.