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Nordstrom Tops Fourth-Quarter Profit Forecasts

Nordstrom Inc. on Thursday reported fiscal fourth-quarter net income of $201 million.

Associated Press

23 February 2017

SEATTLE, United States — Nordstrom Inc. on Thursday reported fiscal fourth-quarter net income of $201 million.

On a per-share basis, the Seattle-based company said it had profit of $1.15. Earnings, adjusted for non-recurring costs, were $1.37 per share.

The results surpassed Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $1.13 per share.

The department store operator posted revenue of $4.32 billion in the period, which fell short of Street forecasts. Six analysts surveyed by Zacks expected $4.37 billion.

Nordstrom expects full-year earnings in the range of $2.75 to $3 per share.

Nordstrom shares have dropped slightly more than 8 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 5.5 percent. In the final minutes of trading on Thursday, shares hit $43.95, a fall of 14 percent in the last 12 months.

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