Nordstrom misses quarterly forecast
SEATTLE — Nordstrom on Thursday reported fiscal fourth-quarter profit of $151 million.
The Seattle-based company said it had profit of 89 cents per share. Earnings, adjusted for pretax expenses and nonrecurring costs, were $1.20 per share.
The results fell short of Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.24 per share.
The department store operator posted revenue of $4.6 billion in the period, also missing Street forecasts. Five analysts surveyed by Zacks expected $4.62 billion.
For the year, the company reported profit of $437 million, or $2.59 per share. Revenue was reported as $15.14 billion.
Nordstrom expects full-year earnings in the range of $3.30 to $3.55 per share, with revenue in the range of $15.2 billion to $15.4 billion.
