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Nordstrom 2Q beats Wall Street expectations

Shoppers come and go from Nordstrom Inc.’s flagship store in downtown Seattle on Sept. 13, 2017. (Ted S. Warren / AP)
Associated Press

SEATTLE – Nordstrom Inc. on Thursday reported fiscal second-quarter net income of $162 million.

On a per-share basis, the Seattle-based company said it had profit of 95 cents.

The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 83 cents per share.

The department store operator posted revenue of $4.07 billion in the period, which also beat Street forecasts. Six analysts surveyed by Zacks expected $3.99 billion.

Nordstrom expects full-year earnings to be $3.50 to $3.65 per share, with revenue in the range of $15.4 billion to $15.5 billion.

Nordstrom shares have risen 10 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased 6 percent. In the final minutes of trading on Thursday, shares hit $52.11, an increase of 17 percent in the last 12 months.