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Nordstrom Falls as Profit Misses Mark

NEW YORK ( TheStreet) -- Nordstrom (JWN - Get Report) is slipping after it reported earnings that fell short of first-quarter estimates.

Despite a disappointing quarter, the high-end department store upped its full-year outlook. Nordstrom now expects full-year earnings in the range of $2.50 to $2.65 a share, up from prior guidance between $2.35 and $2.55 a share.

Nordstrom's

Regardless, shares of Nordstrom are slipping 1% to $40.86 in after-hours trading.

During the first quarter, Nordstrom earned $116 million, or 53 cents a share, a 43% surge from $81 million, or 38 cents, in the year-ago period. Analysts were calling for a profit of 55 cents a share.

Nordstrom sales grew nearly 17% to $1.99 billion from $1.71 billion, while same-store sales jumped 12%.

-- Reported by Jeanine Poggi in New York

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