Nordstrom Posts Mixed Earnings as it Delivers on Growth Initiatives

Keep an eye on shares of Nordstrom (JWN) in Friday's trading session. The department store operator missed profit forecasts in its fiscal fourth quarter earnings. But, Nordstrom beat analysts' estimates on the top line. In the past year, the company opened three full-line stores, plus 27 discounted Nordstrom Rack stores. It also launched Nordstromrack.com and acquired Trunk Club as part of its growth initiative. Nordstrom said same store sales rose more than the company expected in fiscal 2014. The luxury retailer now sees fiscal year 2015 earnings in-line with analysts' forecasts. TheStreet's Kurumi Fukushima reports in New York.