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Judul : Nordstrom’s same-store sales whiff
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Nordstrom’s same-store sales whiff

Thomson Reuters

Nordstrom department store is shown at a shopping center in San Diego, California

Nordstrom capped off a rough day for the retail industry with another disappointing quarter.

The high-end department store said same-store sales slipped 0.8% versus a year ago, missing the unchanged reading that analysts had forecast. 

The company earned an adjusted $0.43 a share, easily beating the $0.27 that Wall Street was expecting. That included “an interest expense charge of $18 million, or $0.06, related to a $650 million debt refinancing completed in the first quarter of 2017,” the release said. 

Revenue of $3.35 billion, edged out the $3.33 billion that the Bloomberg consensus was anticipating. 

Shares of Nordstrom are down 3% at $44.81 in extended trading on Thursday.

Nordstrom’s results come after both Macy’s and Kohl’s failed to excite investors with their earnings announcements ahead of Thursday’s opening bell. Aside from missing on earnings and revenue, Macy’s said comparable sales on an owned-plus-licensed basis contracted by 4.6% in the first quarter, missing analyst forecasts of a 3.5% year-over-year decline.

While Kohl’s beat on earnings, its sales fell short of Wall Street estimates. 

Prior to the earnings, Nordstrom’s stock was down 7.6% on Thursday. 

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