Jim Cramer: Nordstrom Proving Detractors Wrong
Nordstrom is proving its Wall Street detractors wrong, says Jim Cramer.
Nordstrom (JWN) - Get Report is proving its Wall Street detractors wrong, says TheStreet's Jim Cramer. The Seattle-based department store posted adjusted earnings of $0.67 a share, surpassing analysts' estimates of $0.56 a share. Revenue decreased 0.2 percent to $3.65 billion year-over-year and was below Wall Street's projections of $3.68 billion. Comparable-store sales declined 1.2 percent during the quarter. Analysts were expecting a decline of more than three percent. Results were driven by the strength of Nordstrom's Anniversary Sale, which the company said 'performed better than recent trends.'
At the time of publication, Jim Cramer's charitable trust Action Alerts PLUS held no positions in stocks mentioned.
