Nordstrom: Fiscal 1Q Earnings Snapshot
Posted May 28, 2020 04:20:51 PM.
Last Updated May 28, 2020 04:30:22 PM.
SEATTLE (AP) _ Nordstrom Inc. (JWN) on Thursday reported a fiscal first-quarter loss of $521 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Seattle-based company said it had a loss of $3.33. Losses, adjusted for non-recurring costs, were $2.23 per share.
The results fell short of Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for a loss of $1.21 per share.
The department store operator posted revenue of $2.03 billion in the period, also missing Street forecasts. Six analysts surveyed by Zacks expected $2.25 billion.
Nordstrom shares have fallen 56% since the beginning of the year, while the Standard & Poor’s 500 index has dropped 6%. In the final minutes of trading on Thursday, shares hit $18.15, a drop of 45% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on JWN at https://www.zacks.com/ap/JWN
The Associated Press
