Department store operator Nordstrom, Inc. (JWN) in Seattle, Wash., is a fashion retailer that offers apparel, shoes, beauty, accessories, and home goods for its customers. The company provides various brand name products and private label merchandise through several channels.
In its first quarter, JWN topped analysts’ revenue estimates. According to a Refinitiv survey, while the Street was expecting revenue to come in at $3.28 billion for the quarter, JWN reported $3.57 billion revenue. The company expects fiscal-year revenue growth in the range of 6%-8% compared with the prior expectation of 5%-7%. The company also reported a $20 million first-quarter profit, or 13 cents per share, while analysts expected it to report a loss of 5 cents per share. It has also raised its EPS to a range of $3.38 - $3.68, up from a prior expectation of $3.15 - $3.50.
