Nordstrom (NYSE:JWN) announced its quarterly earnings results late today, bringing in adjusted earnings that topped what Wall Street called for, while digital sales were higher, propelling company shares forward late in the day.
The Seattle-based apparel company posted adjusted earnings of $1.48 per share for its fourth quarter of the last fiscal year, topping the $1.42 per share in adjusted profit that Wall Street called for, according to a Bloomberg survey. Revenue came in at $4.48 billion for the period, below the $4.6 billion that analysts projected in a poll compiled by the same publication.
Nordstrom added that its digital sales for the period gained 16% when compared to the year-ago quarter, encompassing about 30% of its sales total. Same-store sales increased 0.1% when compared to the year-ago quarter as traffic trends in its full-line stores were softer, which was below the 1.1% gain that analysts called for.
The retailer’s off-price sales played a role in comparable sales moving 4% higher. For its fiscal 2019, Nordstrom sees its sales gaining about 1% to 2%, while diluted earnings are slated to land at $3.65 to $3.90 per share. Wall Street sees the organization’s adjusted earnings to amount to $3.67 per share, according to Bloomberg.
JWN stock edged a fraction of a percentage higher after hours on Thursday ahead of its strong quarterly showing. Following its earnings beat and strong performance on the digital sales front, Nordstrom shares moved up about 3% after hours.