Nordstrom stock falls after retailer reported holiday sales
Nordstrom Inc. said late Tuesday it expects full year fiscal 2019 earnings to be around the low end of its guidance of $3.27 to $3.37 a share as a result of the holiday-shopping season; adjusted for a credit-related charge it expects $3.55 to $3.65. Nordstrom stock fell 2.7% during the extended session Tuesday. The FactSet consensus for Nordstrom's fiscal 2019 earnings is $3.60 a share. The retailer said that sales jumped 1.3% for the nine weeks ending Jan. 5, compared with the year-earlier period. Nordstrom said "full-price" comparable sales increased 0.3% relative to the third quarter year-to-date increase of 1.9% because of weaker in-store foot traffic. Online sales increased 18% during the same period, which now account for 36% of overall sales. Nordstrom stock closed down less than 0.1% to $47.26 during the regular session, as the S&P 500 index gained 1.2%.
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