Nordstrom Registers Disappointing Results

Investors ditched Nordstrom Monday after the fourth-quarter gain were not up to expectations.The Seattle-based tradesman pronounced it warranted $172 million, or 77 per share, up 152% from $68 million, or 31 cents per share in the year-ago quarter. Sales for the duration finale Jan 30, 2010 strike $2.5 billion, up $10.3% from $2.3 billion in the fourth entertain of 2008.emailprintreprintnewslettercommentssharedel.icio.usDigg It!yahooFacebookTwitterRedditrssforbes:http://www.forbes.com/2010/02/22/nordstrom-retail-luxury-markets-equities-earnings.html?partner=yahoobuzzIn annoy of stellar year-over-year gains, the dialect store user still fell short of Wall Streets distinction estimates. Analysts polled by Thomson Reuters likely gain of 79 cents per share on sales of $2.5 billion. On headlines of the worse-than-expected results, shares slid $1.92, or 5.3%, to $34.21 in after-hours trading. Prior to the release, Sterne, Agee & Leach researcher Sam Poser pronounced he likely the association would inform a clever distinction as same-store sales have been rock climbing in new months. In January, sales at stores open at slightest one year, a key indicator of sell performance, jumped 14% over Jan 2009. For all of 2010, Nordstrom ( JWN - news - people ) pronounced it expects gain in between $2.35 and $2.55 per share. Analysts are presaging EPS of $2.41 on sales of $8.8 billion.Nordstrom wasnt the usually oppulance tradesman to traffic in the red Monday. Tiffany ( TIF - news - people ) slipped 3 cents, or .1%, to $43.51, and Saks ( SKS - news - people ) dipped 3 cents, or .4%, to close at $7.08. ,,2010/02/22/nordstrom-retail-luxury-markets-equities-earnings.htmlMeanwhile, lower-priced retailers done gains. Sears Holding ( SHLD - news - people ) ticked up 62 cents, or .7%, to $95.66; J.C. Penny ( JCP - news - people ) jumped twenty-seven cents, or 1%, to $27.93; and Wal-Mart Stores ( WMT - news - people ) gained dual cents, or .04%, to $53.51.The contributed to this article.
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