A day after Nordstrom sent investors running with sharply lower first-quarter profits, Wall Street showed little willingness to forgive the beleaguered retailer.

On Wednesday, shares in Nordstrom were still down more than 9 percent, to $34.35 — the biggest drop for the Seattle-based retailer since the Great Recession.

The crash came after Nordstrom surprised investors Tuesday afternoon with first-quarter earnings of just $37 million, a 57 percent decline from the same period last year, along with a 3.5 percent decline in sales, to $3.44 billion.

In a conference call with investors, Nordstrom co-President Erik Nordstrom blamed a soft retail environment compounded by poor execution in the company’s online marketing strategy, its merchandising mix, and, in particular, an upgrade to its rewards program, whose members accounted for some 60 percent of first-quarter sales.

Across Wall Street, retail-industry analysts signaled their skepticism by cutting their full-year earnings estimates for Nordstrom and, in some cases, changing their advice to investors about Nordstrom shares.

Best Buy reports higher earnings than expected

Under a cloud of tariffs on Chinese-made goods, Best Buy reported higher-than-expected results for the first quarter, led by sales of appliances, wearables and tablets.

The Richfield, Minn.-based retailer blew past analysts’ profit expectations and were in line on other measures, pushing its stock up 2 percent in premarket trading.

Executives said they remained confident about the rest of the year.

Tariffs on about $200 billion worth of China imports are scheduled to rise to 25 percent from 10 percent on June 1.

For the full year, Best Buy expects sales growth of 0.5 percent to 2.5 percent, revenue in the $42.9 billion to $43.9 billion range and earnings per share of $5.45 to $5.65.