Not such a happy day for Nordstrom Inc. (JWN) investors this time around.

Nordstrom rebounded to a -5% dip in share price on Friday afternoon, after plunging 10% in morning trading, following the release of its fiscal first-quarter earnings on Thursday, May 17. The Seattle-based retailer missed on same-store sales, coming in with a slight increase of .6% versus the 1% estimate.

Rival Macy's Inc. (M) , which reported quarterly earnings on Wednesday, told a different story. It reported same-store sales growth of 4.2%.

Other disappointments in the first quarter ended May 5, 2018 included a dip in online sales, which were up 18% this quarter, compared with a rise of 25% for the comparable period last year. Also taking a hit were gross profits, as a percentage of net sales, of 34.1%, which fell 21 basis points compared with the same period last year. According a press release, the company faltered here due to store opening expenses, including higher occupancy costs for U.S. and Canadian Rack openings and the planned pre-opening expenses connected to the Nordstrom Men's Store in New York City last month.

The retailer's net income for the quarter came in at $87 million, or 51 cents per share, from $63 million, or 37 cents per share, last year. The results included a interest expense charge of $18 million related to a debt refinancing. Earnings before interest and taxes were $153 million, or 4.4% of net sales. During the same period last year, the figures were $151 million, or 4.6% of net sales.

Nordstrom's total revenue increased to $3.56 billion from $3.35 billion, beating analysts' average estimate of $3.46 billion.

Nordstrom Inc. is a holding in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio . Want to be alerted before Cramer buys or sells JWN? Learn more now.

TheStreet presents on May 22: "How to Stomach Market Volatility." Hosted by Fisher Investments, the exclusive live webinar will give you the tools to successfully navigate market volatility and discuss why having a wealth manager is more critical than ever before. Quickly register for the event here.

 

More from Investing

Markets Look Confused After Latest Beating

Markets Look Confused After Latest Beating

Jim Cramer's Investing Rule #2: It's OK to Pay Taxes

Jim Cramer's Investing Rule #2: It's OK to Pay Taxes

General Electric Expulsion From Dow Symbolizes Unsettled Week in Markets

General Electric Expulsion From Dow Symbolizes Unsettled Week in Markets

3 Best Investing Opportunities Right Now in Closed-End Funds

3 Best Investing Opportunities Right Now in Closed-End Funds

How Small-Cap Stocks Can Protect Your Portfolio From a Trade War

How Small-Cap Stocks Can Protect Your Portfolio From a Trade War