viewNordstrom, Inc.

Nordstrom shares slump after missing 1Q comparable sales forecast

Nordstrom has 290 stores across 38 states and increasingly sells much of its wares via Nordstrom.com

Nordstrom's shares are trading lower in pre-market trade

Shares in Nordstrom Inc (NYSE:JWN) slumped in pre-market trade after the upmarket retailer missed Wall Street’s estimates for its first-quarter comparable sales figures.

Investors sent its shares down 6.8% to US$47.45 after Nordstrom’s comparable sales in the first quarter – a key metric of a retailer's profitability - amounted to 0.6%, falling short of Wall Street’s estimate of 1%.

On a broader basis, Nordstrom fared far better, reporting first-quarter earnings of $0.51 per share on revenue of US$3.5bln, which zipped past the consensus estimate of US$0.42 per share on revenue of US$3.4bln.

The company also revised its outlook slightly and now expects fiscal 2018 earnings of US$3.35 to US$3.55 per share and revenue of US$15.2bn to US$15.4bn.

Nordstrom has 290 US stores across 38 states and increasingly sells much of its wares via Nordstrom.com and HauteLook.

Quick facts: Nordstrom, Inc.

Price: 40.46 USD

Market: NYSE
Market Cap: $6.28 billion

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