Under normal conditions, companies that post better-than-expected earnings results – especially when facing difficult circumstances – usually get rewarded with northbound investor sentiment. Unfortunately for department store giant Nordstrom (JWN), however, JWN stock tumbled, both during the open market session as well as the afterhours session. Moving forward, even contrarian speculators will want to think twice before gambling on the luxury retailer.
Outside of any other context, Nordstrom’s fiscal second quarter should have arguably led to a positive swing. According to the AP, the company delivered net income of $137 million or 84 cents per share. This figure beat Wall Street’s consensus target, which called for earnings per share of 45 cents. On the top line, the department store operator posted sales of $3.77 billion, also beating the consensus target, which came out to $3.67 billion.
