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Nordstrom Barely Misses; Market Recoils

NEW YORK ( TheStreet) -- It was only a penny, but no one is forgiving Nordstrom (JWN - Get Report) for it.

Despite the luxury retailer's 17% jump in third-quarter earnings and the fact that it upped its full-year outlook, shares in Nordstrom tumbled 4.6% to $32.95 in after-market trading as it missed forecasts by a penny.

During the quarter, the company earned $83 million, or 38 cents a share, up 17% from $71 million, or 33 cents, in the year-ago period.

Sales inched up 3.5% to $1.87 billion from $1.81 billion, while same-store sales at the full-priced division dropped 4.2%.

Nordstrom now expects full-year earnings in the range of $1.83 to $1.88, up from a prior forecast of $1.50 to $1.65 a share.

Rival Saks (SKS) will report its quarterly results on Nov. 17.

-- Reported by Jeanine Poggi in New York

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