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Nordstrom lower after hours despite reporting earnings beat

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Nordstrom released qwuarterly earnings that beat consensus estimates on the top and bottom line. Nordstrom reported an EPS of 21 cents, compared to EPS estimates of 12 cents. Yahoo Finance's EMily McCormick joined Yahoo Finance Live to break down the key metrics.

Video Transcript

SEANA SMITH: Thanks, Jared. We want to get to another earnings report that we just got out. Nordstrom releasing its results. Emily McCormick has those numbers for us. Emily?

EMILY MCCORMICK: That's right, Seana. And we did see Nordstrom actually beat consensus expectations on the top and bottom lines in its fourth quarter results. Those net sales coming in at $3.55 billion for the fourth quarter ending in January. That was above estimates for 3.49 billion, although that did comprise a decline of 20% on a year over year basis. So still seeing this department store retailer under pressure due to the pandemic.

Now, taking a look at digital sales, those represented 54% of total sales, compared with 35% for the same period last year. So as we've seen with a variety of retailers, Nordstrom also getting a boost here in the e-commerce portion of the division because of new consumer shopping trends.

Now, taking a look at the bottom line, we saw fourth quarter earnings per share come in at $0.21. That was better than expected. Consensus analysts had been looking for $0.12 a share. And then taking a look at guidance for Nordstrom's fiscal year 2021, the company did note that while the timing of recovery of customer demand remains uncertain, the company did say that it expects revenue to grow by more than 25%, with digital representing approximately 50% of sales.

So while we did see Nordstrom guide to returning to year over year revenue growth, perhaps it did underperform in terms of guidance compared to what some analysts had been expecting for this rebound. We did see shares fluctuate a bit between gains and losses. Right now, just trading above the flat line, Seana and Adam.