Retail

Nordstrom shares jump after delivering strong profit, even as sales weaken in second quarter

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Nordstrom‘s stock soared after the company released a mixed earnings report that showed weakening sales, but handily beat Wall Street profit estimates.

Its stock rose about 5% in extended trading, after initially jumping more than 21%.

Here’s how the company did, compared with what Wall Street was expecting, according to Refinitiv consensus estimates:

  • Adjusted earnings per share: 90 cents, vs. 75 cents estimated
  • Revenue: $3.87 billion, vs. $3.93 billion estimated

“We delivered strong bottom-line results, demonstrating our inventory and expense discipline. We exited the quarter in a favorable inventory position and made important strides in productivity,” said Erik Nordstrom, co-president of…



Source cnbc.com

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