Arrow-right Camera

The Spokesman-Review Newspaper The Spokesman-Review

Spokane, Washington  Est. May 19, 1883
Partly Cloudy Night 28° Partly Cloudy
News >  Business

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)
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.

The Spokesman-Review Newspaper

Local journalism is essential.

Give directly to The Spokesman-Review's Northwest Passages community forums series -- which helps to offset the costs of several reporter and editor positions at the newspaper -- by using the easy options below. Gifts processed in this system are not tax deductible, but are predominately used to help meet the local financial requirements needed to receive national matching-grant funds.

Subscribe to the Coronavirus newsletter

Get the day’s latest Coronavirus news delivered to your inbox by subscribing to our newsletter.


Annual health and dental insurance enrollment period open now

 (Courtesy Washington Healthplanfinder)
Sponsored

2020 has been a stressful year for myriad reasons.