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Thursday, Aug 15
More on Nordstrom earnings
- Nordstrom (JWN) Q2 comes in mixed, beating on a per share basis but missing on top line revenue estimates.
- Net sales +6.4% Y/Y.
- Total Company same-store sales increased 4.4%.
- Same- store sales during the Anniversary Sale - historically is largest sales event - increased in the low single-digit range.
- Sales trends showed moderate improvement relative to the first two months of the year but remained softer than anticipated.
- The company cuts guidance for the full year, now seeing its EPS coming in at $3.60 to $3.70 per share, down from its prior outlook of $3.65 to $3.80. The Street is at $3.78 per share.
- It also lowers overall sales guidance from previous expectations of between 4% - 6% to 3% - 4%.
- Same-store sales expectations are also lowered to between 2% to 3% compared to its prior outlook of 3% to 5%.
- Shares -2.4% AH.