Nordstrom's Same-Store Sales Growth Misses Estimates

EarningsReuters

Upscale department store operator Nordstrom Inc reported smaller-than-expected comparable sales growth, sending its shares down 15% in after-market trading.

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Same-store sales rose 0.9% in the third quarter ended Oct. 31. Analysts polled by Consensus Metrix had expected growth of 3.60%.

Revenue rose 6.5% to $3.24 billion.

The company said net income fell to $81 million, or 42 cents per share, from $142 million, or 73 cents per share, a year earlier.

(Reporting by Subrat Patnaik in Bengaluru; Editing by Sriraj Kalluvila)