Nordstrom misses Street 4Q forecasts for profit and sales
SEATTLE (AP) — Nordstrom Inc. shares slumped in extended trading Thursday after the retailer reported disappointing results for the holiday season.
The Seattle-based company said it earned a fourth-quarter profit of $180 million, or $1 per share.
The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $1.22 per share.
The retailer also said that it has reduced its expenses and capital investments in response to current sales trends, but it didn't provide specifics.