
Nordstrom (JWN) Stock Tanks in After-Hours Trading on Earnings Miss
NEW YORK (TheStreet) -- Nordstrom (JWN) - Get Report stock is plummeting by 16.14% to $53.25 in after-hours trading on Thursday, after the company released its 2015 third quarter financial results after the market close today.
The upscale fashion retailer posted earnings of 42 cents per share for the most recent quarter, down from 73 cents per share for the year ago period.
This quarter's earnings included a reduction of 15 cents per share due to the company's $2.2 billion sale of its credit card portfolio to TD Bank in October.
Revenue climbed year over year, to $3.33 billion from $3.14 billion for the 2014 third quarter.
Analysts had expected the company to report earnings of 72 cents a share on revenue of $3.37 billion.
Total sales rose by 6.6%, while comparable sales increased by 0.9% year over year.
Nordstrom cut its full-year forecast for adjusted earnings to a range between $3.40 and $3.50 per share from a range between $3.70 and $3.80 per share.
Separately, TheStreet Ratings team rates NORDSTROM INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
We rate NORDSTROM INC (JWN) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations, growth in earnings per share, expanding profit margins and increase in net income. We feel its strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated.
You can view the full analysis from the report here: JWN
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