Nordstrom Inc (NYSE:JWN) shares are trading lower by 2.49% to $21.13 Tuesday morning. Traders and investors are anticipating the company’s second-quarter earnings report, confirmed for Tuesday after-hours session. According to analyst consensus estimates, Nordstrom is expected to report EPS of 71 cents on revenue of $3.896 billion.
Nordstrom in May reported a larger-than-expected first-quarter adjusted loss of 24 cents per share, missing the estimate of a 7-cent loss. However, quarterly sales exceeded expectations at $3.22 billion, with a 5.1% increase in net sales compared to the previous year.
Nordstrom Rack performed particularly well in the first quarter, with a 13.8% increase in net sales. Despite the positive sales growth, CEO Erik Nordstrom acknowledged that profitability was below expectations.
The company in May also reaffirmed its fiscal year 2024 ...
