Nordstrom beats 1Q expectations

Posted on Thursday, May 17th, 2018 By The Associated Press

FILE- In this Aug. 23, 2017, file photo, a Nordstrom sign is displayed outside of a mall in Indianapolis. Nordstrom Inc. reports earnings on Thursday, May 17, 2018. (AP Photo/Darron Cummings, File)

SEATTLE (AP) — Nordstrom is reporting better-than-expected results for the first quarter.

The Seattle-based department store chain earned $87 million, or 51 cents per share, on revenue of $3.56 billion.

That beat the average Street estimate for earnings per share of 42 cents on revenue of $3.47 billion, according to Zacks Investment Research.

Nordstrom expects full-year earnings to be $3.35 to $3.55 per share, with revenue in the range of $15.2 billion to $15.4 billion.

In after-hours extended trading, Nordstrom shares slid nearly 6 percent to $47.89.

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