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Nordstrom is spiking after a stellar fourth quarter

Tina Wadhwa

Nordstrom reported fourth-quarter profit that beat Wall Street expectations on Thursday, and the stock is up 6.51% at $46.80 a share. 

Here are the numbers:

  • Net earnings of $201 million, or $1.15 per share, compared to $180 million, or $1 per share, the previous year
  • Adjusted EPS of $1.37 compared to analyst expectations of $1.15, according to Reuters
  • Total revenue increased 2% to $4.32 billion in the period, which fell short of analyst expectations of $4.37 billion

The department store operator was boosted by outlet Nordstrom Rack, which saw comparable sales increase 4.3%, while the Nordstrom brand experienced a decrease in comparable sales of 2.7%.

The company expects 2017 net sales growth of 3-4% and 2017 EPS of $2.75-$3 per share for the full year. 

Nordstrom has been in the news for cutting ties with Ivanka Trump's brand earlier in February, a move the company attributed to declining sales. 

Screen Shot 2017 02 24 at 2.13.50 PM

(Markets Insider)

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