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 Follow TheStreet.com on Twitter and become a fan on Facebook.
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