Nordstrom Shares Down 3% After Profit, Forecast Fall Short Of Estimates

Luxury department store chain Nordstrom Inc. shares fell 3% in after-hours trading after its fourth-quarter profit and new full-year outlook both fell short of estimates. Nordstrom said profit fell to $255 million, or $1.32 a share, from $268 million, or $1.37, a year earlier. That missed the FactSet consensus estimate of $1.35 a share. This would be the first time in seven quarters that Nordstrom missed, according to FactSet. Sales rose to $3.94 billion from $3.61 billion, beating estimates. Nordstrom projected full-year profit of $3.65 to $3.80 a share. That missed the FactSet consensus estimate of $4.12 a share.