Nordstrom's First-quarter Profit Misses Mark; Sales Beat

MarketWatch Pulse

Luxury retailer Nordstrom Inc. on Thursday reported mixed results. Profit in the fiscal first quarter ended May 2 fell to $128 million, or 66 cents a share, from $140 million, or 72 cents, a year earlier. That missed the 71-cent FactSet consensus estimate. The company said results were hurt by costs tied to its entry into Canada and the purchase of Trunk Club. Total revenue rose to $3.22 billion from $2.93 billion. The most recent quarter's results topped the $3.17 billion FactSet consensus. Comparable sales rose 4.4%, beating the 3.3% Retail Metrics consensus. Nordstrom kept its profit outlook for the year of $3.65 to $3.80 a share. Wall Street was looking for $3.80 a share, according to FactSet. The company's shares were up less than 1% in after-hours trading.

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