Nordstrom shares jump after it delivers strong profit, even as sales weaken in the second quarter
The company's shares traded higher in post-market trading.'s stock soared by more than 17% after the company released a mixed earnings report that showed weakening sales, but handily beat Wall Street profit estimates.
Here's how the company did, compared with what Wall Street was expecting, according to Refinitiv consensus estimates:Revenue: $3.87 billion, vs. $3.93 billion estimated Sales at full-price department stores were down 6.5%, while sales at its off-price Nordstrom Racks fell 1.9%. The company slashed their net sales guidance for the fiscal year and earnings guidance.
The company is among a host of department stores that is struggling to grow sales. Annual sales at U.S.
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