Nordstrom reports fiscal 4Q net income of $193 million
SEATTLE – Nordstrom Inc. on Tuesday reported fiscal fourth-quarter net income of $193 million.
On a per-share basis, the Seattle-based company said it had net income of $1.23.
The results missed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.48 per share.
The department store operator posted revenue of $4.54 billion in the period, also falling short of Street forecasts. Five analysts surveyed by Zacks expected $4.57 billion.
Nordstrom expects full-year earnings in the range of $3.25 to $3.50 per share.
Nordstrom shares have decreased 18% since the beginning of the year, while the Standard & Poor’s 500 index has declined 7%. In the final minutes of trading on Tuesday, shares hit $33.44, a decline of 26% in the last 12 months.