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.
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 Follow Jeanine Poggi on Twitter and become a fan of TheStreet on Facebook.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV