Real Money stock of the day, Nordstrom (JWN) - Get Report , posted stronger-than-expected third-quarter earnings and boosted its full-year profit outlook as its focus on digital shopping offset a slump in full-price product sales.
Nordstrom earned 81 cents a share in the quarter, up from 39 cents a year earlier and well ahead of analysts' forecasts of 63 cents. Revenue fell to $3.67 billion from $3.75 billion but matched expectations.
Nordstrom said it doesn't expect tariffs on China-made imports to have a material effect on its fiscal 2020 earnings, and it nudged the lower end of its prior guidance 5 cents higher to a range of $3.30 to $3.50 a share while adding 10 basis points to its EBIT margin forecast. Net sales are still expected to fall around 2% from last year, the retailer said.
"JWN could have a strong day Friday and finish back above the 50-day and 200-day moving averages," wrote Bruce Kamich, Real Money's technical analyst, about Nordstrom.
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