Nordstrom stock tumbles after earnings miss expectations [CNBC]
Macy's Inc (M)
Last macy's inc earnings: 2/25 06:55 am
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Source: CNBC
‹ › Nordstrom reported fourth quarter earnings on Thursday that fell short of earnings expectations at a time the company is looking to raise financing for its management buyout. The retailer reported adjusted earnings per share of $1.20, below the $1.24 expected by Thomson Reuters. Shares tumbled nearly 4 percent on the news. Nordstrom is among a list of retailers, including Macy's , J.C. Penney and Kohl's , which reported strong sales this holiday season, boosted by increased spending and greater consumer confidence. But investors have been waiting to see if those riches made their way to the bottom line. Nordstrom reported net earnings for the quarter of $151 million, down from $201 million the same quarter the year prior. That is despite booking revenue of $4.70 billion, above the $4.62 billion expected. It attributed its weaker earnings to pre-opening costs associated with men's flagship in New York, as well as other Nords
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