Nordstrom's (JWN) Q1 Earnings Beat, Soft Comps Hurt Stock
Zacks Investment Research | May 17, 2018 09:06PM ET
Nordstrom Inc. (NYSE:JWN) reported solid top- and bottom-line numbers for first-quarter fiscal 2018 as both earnings and sales beat estimates. Results gained from the shift in Nordstrom’s loyalty event to the first quarter this year. This marked the company’s fourth earnings beat in the last five quarters and the third positive sales surprise in four quarters. However, the company’s comparable store sales (comps) were softer-than-anticipated due to soft off-price sales, reflecting from outsized digital growth.
Shares of this leading fashion-specialty retailer have declined nearly 7% in the after-hours trading, mainly on the soft comps performance. However, the stock has rallied 9% in the past month, outperforming the industry ’s gain of 1.8%.
Nordstrom’s adjusted earnings of 51 cents per share for first-quarter fiscal 2018 surpassed the Zacks Consensus Estimate of 42 cents. Additionally, earnings improved 37.8% year over year from 37 cents per share in the prior-year quarter.
Nordstrom, Inc. Price, Consensus and EPS Surprise
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