NORDSTROM CRUSHES EARNINGS, STOCK UP 10%

Nordstrom reported crushed earnings on Thursday, capping off a strong day for the retail industry.

The high-end department store reported unadjusted earnings of $0.67 per share against analyst expectations of $0.57 a share. Revenue fell just a bit short at $3.65 billion versus projections of $3.68 billion.

Sales fell 1.2%, but that was less than analysts expectations of a 2.6% drop.

The announcement comes after a strong day for the retail industry. Macy’s, Kohl’s, and Ralph Lauren all reported higher than expected quarterly earnings in the morning despite lower sales.

Additionally, many of the big players in the retail industry found their stocks on the up-and-up throughout day.

Prior to the earnings, Nordstrom’s stock was up 7.53% for the day, the highest gain in 2 years.

In after-hours trading, the stock gained another 11.67%, to $53.11 a share, as of 4:09 p.m. ET.

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